- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-11-08T14:43:00
The U.K. has issued 56 new sanctions against entities and individuals involved with Russia’s war effort, including several private mercenary groups operating in Africa that are connected to the Kremlin.
The sanctions, announced Thursday by the U.K. Foreign, Commonwealth & Development Office (FCDO), strikes “at the heart of Putin’s war machine,” the agency said. It is the largest U.K. sanctions package against Russia since May 2023.
The move comes as the U.K. government has come under increased criticism for its lax enforcement of sanctions, particularly against those entities involved in Russia’s invasion of Ukraine.
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Sanctions imposed against Russia following the 2022 invasion of Ukraine are being undermined by the U.K.’s poor track record of enforcement, according to a report by campaign group Spotlight on Corruption.
The U.S. Treasury Department, in coordination with the United Kingdom, is clamping down harder on Russia’s ability to wage war against Ukraine by banning the import of Russian-origin aluminum, copper, and nickel.
More than 150 new designations implemented by the Office of Foreign Assets Control continue U.S. efforts to crack down on entities and individuals supporting Russia from outside the country.
Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation to investigate and penalize those who break sanctions rules.
Five individuals and seven entities in Iran, China, and Hong Kong have been targeted for U.S. sanctions by the Treasury Department’s Office of Foreign Assets Control for helping to obtain components used in Iran’s missles and drones.
The Treasury Department’s Office of Foreign Assets Control sanctioned nearly 50 entities connected with so-called “shadow banking” networks that help Iran’s military evade U.S. sanctions and to sell the country’s oil and petrochemical products.
