The fine amounts to £165,000 (approximately 2.1 million Swedish kronor).
According to the UK Sanctions Monitoring Authority, in the summer of 2022, Deutsche Bank processed two payments totaling £600,000 to a Russian company linked to a sanctioned entity.
"Deutsche Bank takes compliance with sanctions rules very seriously. We have strengthened and continue to strengthen all parts of our framework and processes for compliance with sanctions rules," a spokesperson for the bank wrote to the news agency.
The bank reported the payments in September 2022. This led to the fine being reduced by 45 percent from the original £300,000.
