EMEA News
UK Investigates 37 Businesses for Potential Russian Sanctions Breaches: Report
Friday October 11, 2024
The British government is reportedly investigating 37 UK-linked businesses for potential breaches of Russian oil sanctions.
Among the unnamed businesses are likely to be maritime insurance firms, the BBC reported on Friday. 37 companies were currently under investigation as of August, while investigations into 15 other companies had concluded by that point.
No fines or prosecutions have yet emerged for the businesses under investigation.
Sanctions on Russia include a ban on dealing with firms exporting Russian crude at a price over $60/bl.
A variety of companies are thought to be finding ways of getting around this cap by keeping the price of oil carried at no more than $60/bl but charging more for other services.
