OFSI Issues £1m+ Penalty for Russia Sanctions Breaches – Largest Since 2022 Invasion

On 17 June 2026, the UK's Office of Financial Sanctions Implementation (OFSI) imposed a monetary penalty of £1,000,920.59 on Sabre Global Technologies Limited (SGTL).

This is OFSI's largest penalty for breaches of the Russia sanctions regime since the 2022 invasion and marks the first significant case involving deliberate circumvention.

Key details of the Sabre case

• Between May and December 2022, SGTL continued providing services to a designated entity and explored alternative payment routes to receive funds after designation.
• OFSI assessed the breaches as “most serious,” citing deliberate circumvention, high breach value, repeated conduct, and substantial risk of harm to the objectives of the UK’s Russia sanctions.
• SGTL made a voluntary disclosure, cooperated fully, and undertook remediation. The final penalty reflects a discount under OFSI's new settlement framework introduced in early 2026.
• This amount remains significantly below the all-time record OFSI penalty of £20.47 million, which was imposed on Standard Chartered Bank in February 2020 for pre-Brexit sectoral sanctions breaches. That fine continues to stand as the largest ever issued by OFSI.

Sanctions fines issued in 2026 (complete list)

OFSI has imposed the following monetary penalties so far in 2026. All relate to Russia sanctions breaches. These are civil penalties (on a strict-liability basis in most cases).

Notes on the 2026 fines

• The Sabre Global Technologies penalty is the clear standout — the first significant circumvention case and the largest OFSI Russia sanctions fine since the 2022 invasion.
• All other 2026 penalties are well under £400,000.
• No sanctions fines were issued to Standard Chartered in 2026 (or at any point since the 2020 case).
• OFSI introduced a new settlement policy/framework in early 2026, which includes discounts for voluntary disclosure and cooperation. Several of the above cases used transitional arrangements under it.

Compliance takeaway

• OFSI is showing greater willingness to penalise circumvention attempts and is actively using its updated enforcement tools.
• Firms should ensure sanctions screening covers digital services, software, and data tools as potential “economic resources,” maintain robust payment controls, and report suspected breaches promptly.

Official source

• Full details and penalty notices: https://www.gov.uk/government/collections/enforcement-of-financial-sanctions

This update highlights that while headline figures remain modest compared with historic cases, UK sanctions enforcement is becoming more targeted and sophisticated.