Penalty Notice: 08 May 2025

Notice

Penalty Notice: 08 May 2025

OFSI publishes a penalty notice regarding a breach of financial sanctions regulations.

From:: Office of Financial Sanctions Implementation
Published: 8 May 2025

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Details

On 11 April 2025, the Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, imposed a monetary penalty of 拢5,000 on the UK-registered company Svarog Shipping & Trading Company Limited (鈥淪varog鈥�) in accordance with section 146 of the Policing and Crime Act 2017 (鈥淧ACA鈥�). Svarog breached regulation 74(1)(a) of 皇冠体育app Russia (Sanctions) (EU Exit) Regulations 2019 (鈥渢he Russia Regulations鈥�) by failing, without reasonable excuse, to respond to a regulation 72 request issued by OFSI within the required timeframe.

Published 8 May 2025

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