London fined the Bank of Scotland for violating sanctions against Russia
The Office for the Implementation of Financial Sanctions of the United Kingdom (OFSI) has imposed a fine on the Bank of Scotland for violating restrictive measures imposed against Russia. This was announced on January 26 on the website of the British government.
We are talking about the British subsidiary of Lloyds Banking Group. The fine amounted to 160 thousand pounds, which is equivalent to about $218.6 thousand. According to OFSI, in February 2023, the bank made 24 payments totaling about 77 thousand pounds from the personal account of a person under UK sanctions.
The regulator's document clarifies that the financial institution initially did not identify the sanctioned status of the client, since he had British citizenship and used a passport with a different transliteration of the name that did not match the spelling on the sanctions list.
Initially, OFSI considered the possibility of imposing a fine in the amount of 320 thousand pounds. However, the regulator took into account that Lloyds Banking Group independently notified the authorities of the violation, and therefore the amount of the penalty was reduced. At the same time, the maximum possible fine provided for by British law for such violations can reach 1 million pounds.
The High Representative of the Association for Foreign Affairs and Security Policy, Kaya Kallas, announced on January 13 that the European Union (EU) plans to finalize the 20th package of sanctions against Russia in February.
Russian political analyst Sergei Karaganov noted on January 15 that the anti-Russian sanctions had brought strategic and political benefits to Moscow. He added that the sanctions have strengthened the sovereignty of the Russian Federation, as well as contributed to cultural revival.
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