UK Chancellor of the Exchequer John Healey has called on international allies to intensify pressure on russia, announcing new measures to prevent putin from evading sanctions and using illicit funds to support his illegal war against Ukraine.
The UK Chancellor will also double the maximum fine that the UK’s Office of Financial Sanctions Implementation (OFSI) can impose – from 50% to 100% of the value of a sanctions breach. The tougher penalty will strengthen the deterrent effect of the UK’s sanctions regime and support more effective enforcement.
During his first international meetings with counterparts, the Chancellor worked to build a stronger coalition against covert russian networks that help finance the kremlin’s war effort.
