Office Of Financial Sanctions Implementation Penalizes Herbert Smith Freehills For Breaching Norms

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.