Commons Sense

House of Commons · Written Ministerial Statement

UK sanctions

18 December 2024 · Foreign, Commonwealth and Development Office

Proposed by Stephen Doughty Lab Co-op Cardiff South and Penarth

Foreign Affairs

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • UK sanctions against Russia, Iran, and other malign actors are updated to protect national security interests.
  • The Government has implemented new sanctions packages and coordinated with international partners.
  • A cross-Government review is planned to enhance the sanctions system further.

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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