Notice

Imposition of monetary penalty: Svarog Shipping & Trading Company Limited

OFSI report of penalty for a breach of financial sanctions – failing to respond to a regulation 72 request.

• From: Office of Financial Sanctions Implementation
• Published: 8 May 2025

Documents

Imposition of monetary penalty: Svarog Shipping & Trading Company Limited

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Details

On 11 April 2025, the Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, imposed a monetary penalty of £5,000 on the UK-registered company Svarog Shipping & Trading Company Limited (“Svarog”) in accordance with section 146 of the Policing and Crime Act 2017 (“PACA”). Svarog breached regulation 74(1)(a) of The Russia (Sanctions) (EU Exit) Regulations 2019 (“the Russia Regulations”) by failing, without reasonable excuse, to respond to a regulation 72 request issued by OFSI within the required timeframe.

Published 8 May 2025