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Sanctions, UK

NEWS: UK’s HM Treasury proposes doubling top sanctions penalty to £2M

A person walks into the Treasury government building in London, Britain, March 5, 2024. REUTERS/Toby Melville/files

By PAUL O’DONOGHUE, Senior Correspondent

THE UK’s HM Treasury has proposed raising its maximum sanctions penalty from £1 million ($1.35 million) to £2 million.

The organisation said it is part of an effort to ensure UK financial sanctions are “properly understood, implemented, and enforced”.

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