FLSmidth Investigates Possible Sanctions Breach Related to Russia
Severity: Medium (Score: 43.0)
Sources: Globalbankingandfinance, Uk.Finance.Yahoo
Summary
FLSmidth, a Danish mining equipment and cement technology supplier, is investigating a potential breach of sanctions after discovering it provided pre-contract tender materials to individuals in Russia. This occurred in connection with limited projects in Kazakhstan. The company has halted its pursuit of these tenders and has notified both U.S. and Danish authorities about the situation. The tender activities took place before 2026 and may violate applicable sanctions regulations. FLSmidth is cooperating with authorities and is enhancing its compliance program and risk management measures. The investigation is ongoing, and further details will be disclosed as they become available. Key Points: • FLSmidth is probing a potential sanctions breach involving Russia. • The company provided tender materials related to projects in Kazakhstan. • FLSmidth has ceased tender activities and notified relevant authorities.
Key Entities
- Denmark (country)
- Kazakhstan (country)
- Russia (country)
- Ukraine (country)