UK Cracks Down on Sanctions Evasion with Double Fine Hike

The UK Treasury has announced plans to double the fines for evading sanctions against Russia, in an effort to increase economic pressure on Moscow.

This decision comes as part of a broader push by the UK and its allies to step up international cooperation and disrupt financial networks that fuel Russian aggression, according to Chancellor of the Exchequer John Healey.

The move also involves doubling the maximum fine for evading financial restrictions, which can now reach 100% of the amount obtained through the violation.

This increase in penalties follows a May warning issued by British authorities against the A7 crypto network, which was placed under restrictions due to its involvement in sanctions evasion.