Close Menu
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds

Subscribe to Updates

Get the latest markets and assets news and updates directly to your inbox.

Trending Now

Sotheby’s Will Sell Works by El Anatsui, Sean Scully, and Others to Benefit Royal Academy of Art

February 12, 2026

Coinbase says some customers were ‘unable to buy, sell, transfer’ amid brief Thursday disruption

February 12, 2026

Robinhood’s stock is now trading almost exactly like bitcoin — but it really shouldn’t be

February 12, 2026
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
The Asset ObserverThe Asset Observer
Newsletter
LIVE MARKET DATA
  • News
  • Stocks
  • Bonds
  • Commodities
  • Collectables
    • Art
    • Classic Cars
    • Whiskey
    • Wine
  • Trading
  • Alternative Investment
  • Markets
  • More
    • Economy
    • Money
    • Business
    • Personal Finance
    • Investing
    • Financial Planning
    • ETFs
    • Equities
    • Funds
The Asset ObserverThe Asset Observer
Home»Art Market
Art Market

UK Judge Sets 10-Day Trial in 2028 for Hauser & Wirth’s Russian Sanctions Court Case

News RoomBy News RoomJanuary 14, 2026
Share
Facebook Twitter LinkedIn Pinterest Email

Mega-gallery Hauser & Wirth and a now-liquidated art shipping company are facing trial over allegations of dodging UK sanctions. The gallery is accused of making George Condo’s 2021 work on paper, Escape from Humanity, available in 2022 to a person connected to Russia. The Crown Prosecution Service (CPS) filed the charge in November, with shipping firm Artay Rauchwerger Solomons facing a parallel allegation.

In a December hearing, a judge set a 10-day trial for January 2028, likely before a High Court judge at London’s Southwark Crown Court. The next hearing, on May 5, 2026, will see the defendants formally arraigned and their pleas entered.

Hauser & Wirth, which is headquartered in Switzerland and has 17 locations worldwide, declined to comment on the latest hearing, though it was keen to stress that “the collector concerned is not a sanctioned individual.” In November, the gallery told ARTnews: “As the case is ongoing, we are unable to comment further other than to say we strongly contest this charge and intend to plead not guilty.”

Artay Rauchwerger Solomons could not be reached for comment. The shipping company, founded in 1995 as Art Logistics Co., rebranded in 2023 and went into voluntary liquidation in April 2024, according to Companies House. The investigation, led by HM Revenue and Customs (HMRC)—the UK’s tax authority—is the first known corporate prosecution under the UK’s Russia Sanctions Regulations, and the first criminal case linked to the ban on supplying luxury goods to Russian-connected individuals.

The charges appear to relate to Regulation 46B of the Russia (Sanctions) (EU Exit) Regulations 2019. The UK government made it illegal to offer luxury goods, including jewelry, art, cars, and antiques valued over £250 ($330), to individuals connected to Russia in April 2022. Breaches carry unlimited fines for companies and up to six months in prison for individuals. The European Union also implemented a ban on luxury goods exports as part of its sanctions against Russia in the same month. These moves were the result of Russia invading Ukraine.

HMRC has warned that British firms can run afoul of the law even when selling to Russian-owned companies abroad. “Companies exporting sanctioned goods to Central Asia or other regions where Russian companies operate should ensure the end-user is not Russian-owned,” the agency said in a November case study.

The prosecution underscores the growing regulatory scrutiny of the UK art market. Since 2021, galleries and auction houses, collectively known as Art Market Participants (AMPs), have been required to register with HMRC for anti-money laundering oversight, and more than 90 have faced regulatory action.

Since May 2025, AMPs must report any known or suspected breaches of financial sanctions to the Office of Financial Sanctions Implementation (OFSI), or risk criminal prosecution. This applies to art transactions worth €10,000 ($11,700) or more.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Keep Reading

Sotheby’s Will Sell Works by El Anatsui, Sean Scully, and Others to Benefit Royal Academy of Art

Klára Hosnedlová’s Massive Woven Sculptures Echo Craft Traditions

Bonhams Unveils 57th Street Flagship With Cuban Art, Brancusi, and Boxing Legends

12,000-Year-Old Clothing Made of Animal Hide Discovered in Ice Age Caves in Oregon

Plan for Centre Pompidou in New Jersey is ‘dead’, local official says – The Art Newspaper

Joe Frazier Statue Will Officially Replace Beloved Rocky at Bottom of Philadelphia Museum Steps

Exhibition of Black artists reinterpreting the US flag opens without key Dread Scott work – The Art Newspaper

Studio Museum in Harlem Announces 2026 Artists in Residence, First Cohort in New Building

Centre Pompidou’s New Jersey Museum Is Officially Canceled After Jersey City Mayor Pulls Support

Recent Posts
  • Sotheby’s Will Sell Works by El Anatsui, Sean Scully, and Others to Benefit Royal Academy of Art
  • Coinbase says some customers were ‘unable to buy, sell, transfer’ amid brief Thursday disruption
  • Robinhood’s stock is now trading almost exactly like bitcoin — but it really shouldn’t be
  • Deep Space Energy Secures US$1.1 Million to Advance Lunar Power and Satellite Resilience Goals
  • Why Cisco’s stock is falling hard — and taking the tech sector with it

Subscribe to Newsletter

Get the latest markets and assets news and updates directly to your inbox.

Editors Picks

Coinbase says some customers were ‘unable to buy, sell, transfer’ amid brief Thursday disruption

February 12, 2026

Robinhood’s stock is now trading almost exactly like bitcoin — but it really shouldn’t be

February 12, 2026

Deep Space Energy Secures US$1.1 Million to Advance Lunar Power and Satellite Resilience Goals

February 12, 2026

Why Cisco’s stock is falling hard — and taking the tech sector with it

February 12, 2026

This trucking company is AI’s latest casualty, as the stock heads for a record selloff

February 12, 2026
Facebook X (Twitter) Instagram
© 2026 The Asset Observer. All Rights Reserved.
  • Privacy Policy
  • Terms
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.