Skip to Primary Navigation

Skip to main content

VC fund hit with maximum penalty for Russia sanctions breaches

Image of buildings located in Moscow, Russia.
Photo: Getty Images

Julie DiMauro

3 min read
Click to share on Facebook (Opens in new window/tab) Click to share on X (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

OFAC said GVA had willfully violated US sanctions and ignored OFAC’s legal advice cautioning against sale or transfer of assets.

The US Treasury’s Office of Foreign Assets Control (OFAC) assessed a civil monetary penalty of $215.9m against GVA Capital Ltd. of San Francisco, California, for violations of OFAC’s sanctions against Russia as well as related reporting obligations.

“The penalty amount reflects OFAC’s determination that GVA Capital’s conduct was egregious and

, , , , , ,

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience