The UK’s Office of Financial Sanctions Implementation (“OFSI”) imposed a £5,000 penalty on Svarog Shipping & Trading Company Limited for failing to respond to an information request related to an investigation into potential Russia sanctions violations, according to an enforcement notice.
The UK-registered shipping company, which operates in the maritime oil shipment sector from Cyprus, breached regulation 74(1)(a) of The Russia (Sanctions) (EU Exit) Regulations 2019 by failing to respond to...
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