Office Of Financial Sanctions Implementation Penalizes Herbert Smith Freehills For Breaching Norms
It involved six payments to sanctioned financial entities;
Office Of Financial Sanctions Implementation Penalizes Herbert Smith Freehills For Breaching Norms
It involved six payments to sanctioned financial entities
Britain’s Office of Financial Sanctions Implementation has imposed £3,932,392.10 against Herbert Smith Freehills CIS LLP, Moscow, for breaching the UK financial sanctions imposed on Russia's invasion of Ukraine in 2022.
The designated persons were Alfa-Bank JSC, PJSC Sovcombank, and PJSC Sberbank.
The firm funded directly to the sanctioned entities, demonstrating a pattern of failings. The payments were made in seven days as the firm eased its Russian offices.
