British companies admitted that some violations were accidental and unintentional.

At least127 British companies have admitted to violating the sanctions imposed by theUK against russia.

The FinancialTimes reports thataccording to the British Treasury's response to a Freedom of Informationrequest, which includes data up to 17 May 2023, the scale of the sanctions hastested businesses because of the deep integration of the British and russianeconomies. Some company breaches may have been accidental and unintentional.

The mostprominent case occurred last year when Chelsea football club was hit by acrisis after sanctions were imposed on its then-owner, oligarch RomanAbramovich. Over the past year and a half, some $300bn of total assetsbelonging to russia's central bank alone have been frozen, the FT notes.

StaceyKeane, a financial crime partner at law firm Pinsent Masons, said the russiansanctions packages outside russia are being felt by local businesses in a way thatno other sanctions have ever been felt in history.

SinceFebruary 2022, the UK has imposed sanctions on 1,600 individuals and entitieslinked to russia. British companies are banned from doing business with twodozen banks and more than 100 oligarchs, the publication reported.

Thepenalties range from warning letters to criminal prosecution and unlimitedfinancial penalties.

Recall, on2 November, the United States introduced a newpackage of sanctions against russia. Banks, developers of the Lancet kamikazedrones and members of the russian government were placed under restrictions.