A UK-registered shipping business has been fined £5,000 ($6,660) for failing to cooperate with a “large and complex” investigation into an ultimately unfounded sanctions breach linked to Russian tanker player Sovcomflot.
Svarog Shipping & Trading Co was found to have been involved in a transaction with an SCF subsidiary but failed to respond rapidly to a January 2024 request for information from the UK sanctions regulator.
