His Majesty's Revenue and Customs (HMRC) has for the first time publicly named a company accepting a compound settlement for breaching Russia sanctions, marking a material shift in the transparency of UK strategic export enforcement. Petrofac Facilities Management Limited (PFML) paid £569,157 to settle breaches committed in 2022 and 2023, when the firm supplied sanctioned industrial goods to individuals connected to Russia and provided related technical assistance while windi

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, has imposed a monetary penalty of £1,000,920.59 on Sabre Global Technologies Limited (SGTL), a UK travel technology provider. The figure represents the largest penalty OFSI has issued in relation to the Russia sanctions regime since the 2022 invasion of Ukraine, and — of greater interest to compliance teams — the first penalty OFSI has issued for a circumvention offence. The underlying conduct is in

On 19 May 2026, the Department for Business and Trade (DBT) issued two new general trade licences under the Russia (Sanctions) (EU Exit) Regulations 2019 (the Russia Regulations), both of which came into force on 20 May 2026. The licences sit alongside the latest amendments to the regime, which introduced new prohibitions on the import of processed oil products derived from Russian crude and on the maritime transportation of Russian liquefied natural gas (LNG) — measures that

An Italian arms dealer has pleaded guilty in the United States to conspiring to illegally export American-made ammunition that was ultimately reexported to Russia for use in its war against Ukraine. The case highlights the continuing enforcement focus on third-country diversion routes, front companies and falsified end-use arrangements used to move controlled goods into Russia despite export restrictions. The defendant, Manfred Gruber, admitted conspiring to commit export con

The US Department of the Treasury has moved to sever Swiss lender MBaer Merchant Bank AG from the US financial system, citing its alleged role in facilitating illicit finance linked to Iran and Russia. In a notice of proposed rulemaking published on 26 February 2026, the Financial Crimes Enforcement Network (FinCEN) set out plans that would prohibit covered US financial institutions from opening or maintaining correspondent accounts for, or on behalf of, MBaer. The proposed a

A Delhi-based businessman has been sentenced to 30 months in federal prison by a US court for conspiring to illegally export controlled aviation components from Oregon to Russia, underscoring the continued convergence of export controls, sanctions enforcement and national security priorities. Sanjay Kaushik, 58, was sentenced in Portland, Oregon on 16 January 2026, alongside 36 months of supervised release, after pleading guilty to conspiracy under the Export Control Reform A

The UK has imposed its toughest sanctions yet on Russia, directly targeting its energy sector and the global enablers sustaining President Vladimir Putin’s war in Ukraine. Announced jointly by the Foreign, Commonwealth & Development Office and HM Treasury, the sweeping package of 90 new sanctions cuts deep into the Kremlin’s oil revenues, striking at major producers Rosneft and Lukoil – which together export more than three million barrels per day. Rosneft alone accounts for

A Latvian national has pleaded guilty in a United States federal court to conspiring with American partners to illegally export sensitive...

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, has imposed a monetary penalty of £152,750 on Colorcon...

The UK, in coordination with the European Union, has introduced a reduced Oil Price Cap on seaborne Russian crude oil, lowering the...

A New Jersey resident and dual United States and Russian national has been sentenced to 30 months in prison for his role in a...

The Office of Financial Sanctions Implementation (OFSI) has fined UK company Markom Management Ltd (MML) £300,000 for breaching sanctions...