NCA issues red alert on Russia’s attempts to circumvent sanctions and FCDO announces new sanctions

Article summary

The National Economic Crime Centre (NECC), a multi-agency unit in the NCA, has issued a red alert to financial institutions and other members of the UK regulated sector warning that Russia is attempting to circumvent UK sanctioned goods through complex supply chains, alternative supply routes and intermediary countries. The red alert details fourteen steps that the financial sector can take to detect activity that indicate attempts to circumvent sanctions. Additionally, the Foreign, Commonwealth and Development Office (FCDO) has announced 46 new sanctions targeting individuals and groups supplying Russia with military equipment and parts and funding this process. Those sanctioned include businesses and groups in Russia, Belarus, China, Serbia, Turkey, the UAE and Uzbekistan.