Major British energy firm fined £569,157 by HMRC after breaching Russia sanctions
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Major British energy firm fined £569,157 by HMRC after breaching Russia sanctions.
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Petrofac Facilities Management Limited has been ordered to pay £569,157 to HM Revenue and Customs (HMRC) after breaching UK sanctions imposed on Russia during its withdrawal from the country.The Aberdeen-headquartered energy services company became the first business to be publicly identified after agreeing what HMRC described as a compound settlement, under which a company pays a financial penalty to avoid court proceedings.The breaches occurred during 2022 and 2023 while Petrofac was exiting its Russian operations.HMRC said the public naming marks a significant change in its approach to sanctions enforcement and is intended to increase transparency while aligning its practices with other UK enforcement bodies.
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TRENDING Stories Videos Your Say The investigation found Petrofac had supplied industrial goods that were subject to UK sanctions to individuals connected with Russia, making those products available for use within the country.The company was also found to have provided...
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