On 7 November 2024, the UK government designated an additional 56 individuals and entities in its largest financial sanctions package since May 2023 (see the official press release here).
The package aims to further restrict the supply of equipment utilised by Russia’s military industrial complex and target Russia’s global activities, particularly in Africa.
Newly adopted designations
The package consists of 56 new designations through five of the UK’s autonomous sanctions regimes. Targets include:
- 28 suppliers of machine tools, microelectronics, components for drones, ball bearings or other goods to the Russian military-industrial complex, including entities based in China, Kazakhstan, Uzbekistan and Turkey;
- Russian-backed private mercenary groups operating in Sub-Saharan Africa, as well as connected individuals and organisations, alleged to be attempting to exploit fragile security environments and natural resources in these countries;
- Russian and non-Russian individuals who are alleged to have supported the supply of goods to Russia military industrial complex.
These individuals and entities are subject to asset freezes and travel bans. Furthermore, it is prohibited for UK persons to provide funds or economic resources, directly or indirectly, to or for the benefit of these listed individuals and entities.
The full UK Sanctions List is available here.
Key takeaways
This latest action is further evidence of the UK seeking to act against Russia’s global sphere of influence, as well as an increased focus on non-Russian persons involved in the production and supply of goods and technology for Russia’s military. It is notable that non-Russian entities targeted are based in jurisdictions typically viewed as present high circumvention and diversion risk.
This follows the recent UK measures (in coordination with the EU and US) in response to Iran’s support for Russia’s war effort (see our blog posts here and here).
If you have any questions on how the above developments may impact your organisation, please reach out to our team below.
