Britain’s foreign office on Thursday announced new sanctions targeting individuals and entities it said were involved in the production or transport of Russian oil, facilitating military manufacturing and circumventing financial services sanctions. Britain said two of those entities sanctioned had processed and facilitated transactions with the A7 illicit finance network.
Seventeen entities and individuals involved in the supply of goods deemed by the UK, US and EU to be vital for the Russian war effort, including Russia-based importers of machine tools, electronics and materials used to produce missiles and drones.
Sanctioned Entities
The UK sanctioned two more Russian oil companies: Zarubezhneft and INK Capital, 12 oil tankers operating as part of Russia’s shadow fleet – bringing the total number sanctioned to over 600.
Three crypto exchanges and two payment platforms, including three linked to Kyrgyzstan and one linked individual were also sanctioned on suspicion of being used by Russia to circumvent financial sanctions, two of which have processed and facilitated transactions with the A7 network.
The Kremlin-backed A7 illicit finance network is used to circumvent international sanctions against the Russian financial sector. Last year, the network claimed to have moved more than $90 billion equivalent to roughly half of Russia’s annual military expenditure.
There were also sanctions on 17 entities and individuals involved in the supply of goods deemed by the UK, US and EU to be vital for Russia’s continued war effort – also knowns as Common High Priority (CHP) goods.
This includes Russia-based importers of machine tools, electronics and materials critical to the production of Russia’s ballistic missile and drone capabilities.
