Deutsche Bank's London branch fined over Russian sanctions breach

LONDON, May 19 (Reuters) - Deutsche Bank's London branch ​has ‌been fined 165,000 pounds ($221,084) for breaching Britain's ⁠Russia sanctions regime in ⁠2022, the sanctions ​enforcement regulator said on Tuesday.

The bank processed two payments in June and ​July ‌2022, totalling around 635,619 pounds, to a Russian entity that had become affiliated with a sanctioned entity, ​the government's Office of Financial Sanctions ‌Implementation said.

"Deutsche Bank takes sanctions compliance extremely seriously," a spokesperson ‌said. "We have strengthened and continue to strengthen all aspects of our sanctions compliance framework ​and associated processes."

The bank's London branch self-reported ‌the payments to OFSI in September 2022, qualifying for a 45% discount ⁠to ⁠an original 300,000-pound penalty.

OFSI introduced ‌a new enforcement regime in February 2026 ​to allow ​such cases to be ‌settled.