Russian club Rubin Kazan have been banned from playing in the Champions League and Europa League if they qualify for either tournament in the next two seasons.
European football’s governing body Uefa handed down the punishment for the breach of financial fair play rules.
The Russian Premier League side had a ‘settlement agreement’ with Uefa after initially breaking the rules.
But it broke that arrangement, leading Uefa to open a new investigation.
Financial fair play rules are designed to stop clubs spending more than they earn.
Settlement agreements usually see clubs accept restrictions on transfers and squad sizes for a set period of time.
Founded 60 years ago, Rubin played its first domestic top flight season in 2003 and has remained there since, winning the Russian Premier League in 2008 and 2009.
In recent seasons, the club – whose Kazan Arena home ground is in Russia’s sixth most populous city Kazan – has been a regular in European contests.