The following alert provides an update on recent sanctions developments including: 1. A £30,000 fine imposed for breaches of UK sanctions; 2. The expansion of the prohibition on.
Recent sanctions developments: £30,000 fine for breaches of UK sanctions; expanded prohibition on professional services for persons connected with Russia; Office of Foreign Assets Control OFAC and UK Office of Financial Sanctions Implementation OFSI collaboration.
United Kingdom's Office of Financial Sanctions Implementation, OFSI announced a £30,000 penalty on UK company Hong Kong International Wine and Spirits Competition Ltd for breaching UK financial sanctions regulations for paid publicity of the sanctioned wine brand.