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Apple Fined by UK Over Sanction Breaches
Bloomberg Tech·
Apple's European subsidiary has been fined £390,000 by the UK's Office of Financial Sanctions Implementation for violating Russian sanctions. The violation occurred in 2022 when Apple Distribution International Ltd. made payments totaling £635,618 to a Russian streaming platform, Okko LLC. These transactions were processed through UK banks. The company, based in the Republic of Ireland, voluntarily reported these payments to the relevant government agency, which likely influenced the penalty amount. This incident highlights the complexities of international sanctions compliance for global technology firms.
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$AAPL
Tags
regulation
legal
Original Source
Bloomberg Tech — bloomberg.com