On April 15, 2026, the UK’s National Crime Agency announced that it charged British financier John Michael Ormerod for breaching Russia sanctions and engaging in an anti-money laundering offense. According to the NCA, the charges relate to Ormerod’s transfer, on May 20, 2025, of £200,000 in violation of regulation 11 of Russia (Sanctions) (EU Exit) Regulations 2019. On the same day, he also allegedly engaged in a money laundering offense related to his transfer of £100,000 “which he knew or suspected was benefit from criminal conduct” in violation of the s.327(1) Proceeds of Crime 2002. The NCA indicated that alleged offenses occurred on the day that Ormerod was designated by the Foreign, Commonwealth & Development Office (“FCDO”) under Russia sanctions regulations after he was suspected of obtaining a benefit from business conducted in the Russian energy sector, a sector of strategic significance to the Russian government.
According to the NCA, these charges were authorized by Crown Prosecution Service based on a review the agency’s file. Ormerod is currently scheduled to appear in the Westminster Magistrates Court on May 15, 2026, to face the charges against him.
The NCA’s charges were filed just weeks after the FCDO removed Ormerod from the UK Sanctions List. On March 2, 2026, Ormerod was officially removed from the Sanctions List, reversing the imposition of asset freezes and other financial sanctions against him.