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City law firm Herbert Smith Freehills fined over Russia sanctions breaches

The Office of Financial Sanctions Implementation fined the company £465,000 over payments to Russian banks.



Herbert Smith Freehills was fined £465,000 by the Office of Financial Sanctions Implementation for breaching UK financial sanctions on Russia by making £3.9 million in payments to sanctioned Russian banks in May 2022 while winding down its Moscow office. The firm self-reported the errors and expressed disappointment with the fine.

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