The UK’s Office of Financial Sanctions Implementation (“OFSI”) has imposed a penalty on pharmaceutical company Colorcon over payments made for salaries to Moscow office employees and bookkeeping, payroll services and other expenses.
OFSI found Colorcon made 123 payments with a collective value of £191,290.57 to non-designated employees and service providers holding accounts at designated entities Alfa Bank JSC, Promsvyazbank, Sberbank and VTB Bank between March and December 2022, OFSI said in a ...
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