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GVA Capital Hit with $216M Fine for Sanction Breach

7/11/2025

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Summary

Story summary

GVA Capital Ltd. faces a hefty $216 million penalty from the U.S. Treasury's OFAC for breaching sanctions tied to Russian billionaire Suleiman Kerimov. Ignoring legal warnings, the firm funneled $20 million into Luminar on Kerimov's behalf, jeopardizing U.S. foreign policy by granting him access to the American financial system.

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Story summary

GVA Capital Ltd. faces a hefty $216 million penalty from the U.S. Treasury's OFAC for breaching sanctions tied to Russian billionaire Suleiman Kerimov. Ignoring legal warnings, the firm funneled $20 million into Luminar on Kerimov's behalf, jeopardizing U.S. foreign policy by granting him access to the American financial system.