United Kingdom doubles penalties for sanctions evasion targeting Russia
London raised OFSI's maximum fine and the NCA warned about an A7 network accused of rerouting funds and abusing foreign banks.
The United Kingdom has increased pressure on the financial networks that sustain Russia’s war economy by doubling penalties for sanctions evasion, the Treasury announced on September 1, 2026.
Finance Minister John Hiley said London is intensifying economic pressure on Russian President Vladimir Putin and those who assist him, adding that the measures are intended to remove safe havens for resources that support the conflict. He described the step as part of a broader campaign to make sanctions harder to evade.
Hiley said the maximum fine that the Office of Financial Sanctions Implementation (OFSI) can impose has been raised from 50 percent to 100 percent.
Authorities name networks and previous actions
The National Crime Agency (NCA) also issued a national warning aimed at an A7 network allegedly supported by the Kremlin and accused by the government of redirecting funds, facilitating procurement and abusing foreign banking systems to evade sanctions.
Earlier this year, in May, the UK moved against cryptocurrency trading platforms linked to Russia as well as banks and financial networks it said were being used to circumvent restrictions, freezing assets and banning British companies from processing payments or maintaining banking links. In August, London announced additional sanctions targeting Russian vessels, banks and industrial firms.
Officials said the combined measures are intended to tighten international cooperation, expose sanctions-avoidance schemes and disrupt the financial chains that enable Russian aggression.
Photo: press material from the event
