Sanctions
The question
To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 September 2025 to Question 72563 on Sanctions, which company received a monetary penalty of £465,000 in March 2025.
Answered by Lucy Rigby
On 20th March 2025, the Office of Financial Sanctions Implementation (OFSI) imposed on Herbert Smith Freehills CIS LLPP (“HSF Moscow”) a monetary penalty for the sum of £465,000. HSF Moscow was the subsidiary office to the UK registered Herbert Smith Freehills LLP (“HSF London”) until its closure by HSF London on 31 May 2022 as a consequence of Russia’s invasion of Ukraine in February 2022. The reason for the penalty was the breach of financial sanctions imposed on Russia by providing payments to designated persons without a licence. The full penalty notice can be found here.
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