The UK Office of Financial Sanctions Implementation (OFSI) announced on 28 June that it imposed a £15,000 penalty on UK company Tracerco Limited for breaching financial sanctions. Tracerco was found to have made funds available for the benefit of a designated person in breach of financial sanctions on Syria.
Tracerco provides measuring products and services to the oil and gas industry and made two payments totaling £2,956.43 to designated entity Syrian Arab Airlines (SAA) between May 2017 and August 2018 for flights to take an employee home. Tracerco booked the flights through a United Arab Emirates travel agency and then refunded the agency for the flights.