UK creates unit to clamp down on companies evading Russian sanctions

An employee works at the garment factory of the YOU clothing brand in Saint Petersburg on August 10, 2023. Russia's emerging fashion industry is rushing to fill the gap left by the departure of major Western labels such as Adidas, H&M and Zara. (AFP/File)
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Updated 11 December 2023
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UK creates unit to clamp down on companies evading Russian sanctions

  • Britain warned last week that Russia was trying to circumvent sanctions
  • It announced 46 new measures against individuals and groups from other countries it said were involved in Russia’s military supply chains

LONDON: The British government said on Monday it was creating an enforcement unit to increase its power to crack down on companies evading Russian sanctions.

The Office of Trade Sanctions Implementation (OTSI) will be responsible for the civil enforcement of trade sanctions, investigating potential breaches, issuing penalties and referring cases for criminal enforcement.
It will also help businesses comply with sanctions, the government’s Department for Business and Trade said, and its remit will include activity by any UK national or UK-registered company that may be avoiding sanctions by sending products through other countries.
The unit will launch early next year and work alongside the existing Office of Financial Sanctions Implementation.
“We are leaving no stone unturned in our commitment to stopping (Russian President Vladimir) Putin’s war machine. That means clamping down on sanctions evaders and starving Russia of the technologies and revenues it needs to continue its illegal invasion,” Britain’s Industry and Economic Security Minister Nusrat Ghani said.
“Today’s announcement will help us do that, and send a clear message to those breaking the rules that there is nowhere to hide.”
Britain warned last week that Russia was trying to circumvent sanctions and announced 46 new measures against individuals and groups from other countries it said were involved in Russia’s military supply chains.
This included businesses operating in China, Turkiye, Serbia, the United Arab Emirates and Uzbekistan.
Britain said 20 billion pounds ($25.07 billion) of UK-Russia goods trade has now been sanctioned, with imports from Russia down 94 percent in the year to February 2023, compared to the previous year.


Machado says Venezuelan elections could happen this year, Politico reports

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Machado says Venezuelan elections could happen this year, Politico reports

  • “We have a ⁠legitimate leadership with huge popular support and our armed forces are also supportive of a transition to democracy,” Machado told Politico
  • Trump in January said he was considering getting Machado “involved some way“

WASHINGTON: Venezuelan opposition leader Maria Corina Machado said she believed elections could be held in her country later this year, speaking to Politico in an interview released on Thursday.
“We believe that a real transferring process with manual voting … could be done in nine to 10 months,” Machado said. “But, well, that depends when you start.”
Machado, whose party said it won 70 percent ⁠of the vote in Venezuela’s 2024 election, met with President Donald Trump and spoke with his top diplomat and US lawmakers last month following the US capture of the country’s longtime leader Nicolas Maduro.
“We have a ⁠legitimate leadership with huge popular support and our armed forces are also supportive of a transition to democracy,” she told Politico.
Trump in January said he was considering getting Machado “involved some way” even as he has backed Venezuela’s interim President Delcy Rodriguez.
Machado told Politico that she had not yet spoken to Trump about the election process. Secretary ⁠of State Marco Rubio told US lawmakers at a Jan. 28 hearing that Venezuela’s new leaders were moving toward closer ties with Washington before meeting with Machado later that day.
US intelligence reports have questioned whether Rodriguez is fully on board with the strategy for her country and if she intends to formally cut ties with US adversaries, Reuters reported last month.