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UK sanctions
18 December 2024
Type
Written Ministerial Statement
Department
Foreign, Commonwealth and Development Office
At a Glance
Issue Summary
The statement provides an update on the UK's robust and targeted use of sanctions against Russia, Iran, and other malign actors to protect national security interests.
Action Requested
The Government has taken significant action including new sanctions packages, coordination with international partners, and enforcement measures. They also plan a cross-Government review to further enhance their sanctions system.
Key Facts
- Since July, UK targeted 69 oil tankers, nine LNG carriers, and six military goods vessels.
- Sanctions have deprived Russia of over $400bn since February 2022.
- In October, the Chancellor announced £2.26bn in further support to Ukraine for military spending.
- HMRC issued six compound settlements against UK companies for a total of £1,363,129 from February 2022.
- Starling Bank Limited was fined £28,959,426 by the FCA in September 2024 for financial crime failings.
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