Herbert Smith Freehills fined £465,000 over Russia sanction breaches
- Herbert Smith Freehills received a £465,000 fine for making payments to sanctioned Russian banks, including Sberbank and Sovcombank, totaling over £3.9 million.
- The firm claimed that the payments were made in error by its Moscow office before it was shut down in May 2022.
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A UK firm breaches Russian sanctions, fined over $602,000 by watchdog
This penalty ranks among the largest ever imposed by OFSI. The Treasury-affiliated watchdog had faced frequent criticism from politicians and civil society for not issuing any fines following Russia’s invasion of Ukraine
·Mumbai, India
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