HSF Moscow Fined £465,000 by UK Authorities for Breaching Russia Sanctions

Herbert Smith Freehills’ former subsidiary, HSF Moscow, has been fined £465,000 by the U.K. Office of Financial Sanctions Implementation (OFSI) for violations of financial sanctions imposed on Russia. The sanctions were in response to Russia’s invasion of Ukraine. The fines relate to payments made by HSF Moscow in 2022, prior to its closure by HSF London in May 2022. This penalty highlights the ongoing compliance challenges law firms face in the dynamic regulatory environment stemming from geopolitical developments. For more details, read the full article on Law.com.