Swedbank to pay OFAC SEK37m over Russia sanctions violations

Leading Swedish deposit-taker Swedbank, on 19 June [2023], announced a settlement with the US Office of Foreign Assets Control (OFAC) under which it will pay SEK37m (US$3.44m) for apparent violations of US sanctions on Russia.

Leading Swedish deposit-taker Swedbank, on 19 June [2023], announced a settlement with the US Office of Foreign Assets Control (OFAC) under which it will pay SEK37m (US$3.44m) for apparent violations of US sanctions on Russia. [1]