Attached is the judgement. The context of the case is that VTB Bank (Russia) issued judicial review proceedings in connection with certain amendments made by OFSI to its license related to the administration of VTB Capital (a UK subsidiary of VTB).
The amendments restricted certain rights of VTB (granted in the earlier version of the licence) and VTB Bank sought to challenge such amendments. The UKHC stated that as VTB (being a bank subject to UK asset freeze) had no rights in the administration of VTB Capital in the first place, they cannot succeed in their challenge. The judgement is useful to see how the UK Courts approach attempts of JR related to OFSI licences with the conclusion being that any such challenges are highly unlikely to be successful.