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UK agencies issue warning on Russian sanctions violations

News Team, 07/12/2023

The National Crime Agency (NCA), in collaboration with government partners, has issued a warning to the UK financial sector on Russian approaches to sanction evasion using intermediary countries.

The NCA noted that despite direct trade from the UK falling to historic lows Russia has utilised complex supply chains to acquire sanctioned items.

A recent investigative report found that Cyprus was one jurisdiction in which financial service firms facilitated the circumvention of sanctions...


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