Citigroup's (C) Citibank NA London Branch has been fined about 4.7 million British pounds ($6.3 million) under the UK's Russia sanctions regime, Britain's Office of Financial Sanctions Implementation said Wednesday.

The unit had made funds available for the benefits of those covered by the Russia sanctions, the regulator said, adding that the penalty was imposed last month.

The majority of the breaches occurred between February and November 2022, with CBNA London voluntarily disclosing the majority of them, according to the regulator.

Citibank didn't immediately respond to MT Newswires' request for comment.