UPDATE 1-Sabre Corp's UK unit hit with record £1 million fine over Russia sanctions breach
Sabre Corporation SABR | 0.00 |
Adds background and context throughout
June 17 (Reuters) - Britain on Wednesday imposed a record £1 million ($1.34 million) penalty on Sabre Corp's SABR.O UK unit for breaching financial sanctions against Russia in place since the invasion of Ukraine.
Here are some details:
Office of Financial Sanctions Implementation (OFSI) imposed the fine after Sabre Global Technologies continued to provide Russian carrier Ural Airlines access to its global distribution system service for seven months after sanctions were imposed by the UK in May 2022.
Sabre, which provides software and services to travel companies, explored alternate payment avenues after payments to its UK banks were suspended, OFSI said.
The company, which made a voluntary disclosure of its breaches, also asked Ural to send a test payment to one of its non-UK bank accounts intended for future settlements, the agency added.
The UK, the United States, the European Union and others have imposed sanctions in response to the invasion. Britain has sanctioned more than 3,000 individuals, entities and ships.
Britain had fined Deutsche Bank's DBKGn.DE London branch £165,000 in May and Apple's AAPL.O Irish unit £390,000 in March for breaches of Russia financial sanctions.
Sabre did not immediately respond to Reuters' request for comment.
($1 = 0.7457 pounds)
