"The Office of Financial Sanctions Implementation imposed a monetary penalty on Apple Distribution International because it was satisfied that ADI had breached prohibitions imposed by financial sanctions legislation."
"The payments, worth more than £635,000 in total, were made to the streaming service Okko from an ADI bank account based in Britain."
"Sberbank was among the first Russian companies to be added to the UK's sanctions list after Russia's full-scale invasion of Ukraine."
"OFSI said ADI voluntarily disclosed the payments and the fine had been imposed after settlement talks, indicating ADI had no reason to suspect a breach of sanctions."
Apple Distribution International (ADI) was fined £390,000 by the UK's Office of Financial Sanctions Implementation for breaching sanctions against Moscow. ADI made payments exceeding £635,000 to the Russian streaming service Okko, which is owned by a sanctioned entity. The payments occurred in June and July 2022, after Okko was sold by Sberbank, a sanctioned Russian bank. ADI voluntarily disclosed the payments and claimed no prior knowledge of the sanctions. The fine was settled after discussions with OFSI, which found that ADI likely breached financial sanctions legislation.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]