Firms At Risk Of Monetary Penalty For Breaches Of UK Financial Sanctions Imposed On Russia. - Conventus Law

Firms At Risk Of Monetary Penalty For Breaches Of UK Financial Sanctions Imposed On Russia. - Conventus Law

The UK’s Office of Financial Sanctions Implementation (“OFSI”) has imposed a monetary penalty of £465,000 against a multinational law firm’s Russian office (the “Russian Office”) for breaching UK financial sanctions against Russia following its invasion of Ukraine in February 2022.  This is the first time OFSI has enforced against a law firm. The Russian Office was a limited liability partnership incorporated in the UK, and it operated in Russia…