Lord Fairfax is a director of Sovcomflot (UK) Ltd the British arm of SCF Group

The company accounts state:

and further

From SCF website

 

Sanctions against trading with Russia specifically prohibit trading with energy companies engaged in Arctic oil exploration

I am also investigating a related matter concerning HSBC US who hold an account with a related company, registered in Cyprus, similarly controlled by the Russian government. I will  be reporting this to US authorities next week.