The OverRuled: Russia Trade Controls Resource Center has been updated with the following actions:
- 09 May 2025 (UK):
The UK Government sanctioned 101 ships, five individuals, and four entities under the Russia (Sanctions) (EU Exit) Regulations 2019 (the "Russia Regulations"). This is the UK's largest package of sanctions targeting Russia's shadow fleet and its enablers.
- 08 May 2025 (UK):
The Office of Financial Sanctions Implementation ("OFSI") announced that, in accordance with section 146 of the Policing and Crime Act 2017, a monetary penalty of £5,000 was imposed on UK registered Svarog Shipping & Trading Company Limited ("Svarog") for failure to respond within the required timeframe, without a reasonable excuse, to a request for information ("RFI") issued by OFSI in accordance with Regulation 72 of the Russia (Sanctions) (EU Exit) Regulations 2019 ("Russia Regulations"). According to OFSI's Penalty Notice, there were no other findings that Svarog breached the Russia Regulations. The penalty relates to an information offense and is the first of its kind to be issued by OFSI.
- 08 May 2025 (UK):
The Office of Financial Sanctions Implementation ("OFSI") issued a blog post, highlighting the key lessons for industry following its recent announcement that OFSI had issued a monetary penalty of £5,000 against UK registered company Svarog Shipping & Trading Company Limited ("Svarog").
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