The United Kingdom has announced a fresh round of sanctions targeting Russia’s military supply chains, illicit financial networks and the so-called shadow fleet, including action against a Nigerian-linked company accused of helping Russia evade international sanctions.
In a statement issued on Tuesday, June 16, the UK government said the latest package consists of 70 new sanctions aimed at weakening Russia’s ability to sustain its war in Ukraine.
According to the statement, the measures target networks involved in military procurement, sanctions evasion and political interference linked to the Russian state.
The UK said the sanctions also affect third-country suppliers of critical military goods to Russia and financial actors accused of facilitating illicit transactions on behalf of the Kremlin.
Among those sanctioned is Pilot Finance, also known as Continental Global Incentives, which the UK identified as an entity connected to sanctions evasion activities in Nigeria.
The British government alleged that such entities exploit financial systems to carry out transactions that circumvent sanctions imposed on Russia, thereby undermining the integrity of global financial systems.
Speaking on the development, British Deputy High Commissioner to Nigeria, Gill Lever, said the sanctions are intended to disrupt networks supporting Russia’s war efforts.
“Today, the UK announced 70 new sanctions aimed at further constraining the Kremlin’s networks and its ability to prosecute its illegal war against Ukraine. These defensive, targeted measures focus on Russia’s shadow fleet, military procurement supply chains linked to Russian military intelligence, and wider illicit finance networks involved in sanctions evasion and political interference internationally,” she said.
Lever noted that the sanctions extend beyond Russia by targeting suppliers and financial facilitators operating in other countries.
“Measures announced today include action against third-country suppliers of key military goods to the Russian state, as well as financial actors facilitating illicit transactions. This includes the designation of an entity, Pilot Finance (also known as Continental Global Incentives), linked to sanctions evasion activity in Nigeria,” she added.
She further alleged that such organisations facilitate illicit transactions for the Russian government while exposing jurisdictions to financial and reputational risks.
“Entities such as this exploit financial systems to facilitate illicit transactions on behalf of the Kremlin, undermining the integrity of financial systems and exposing jurisdictions to reputational risk.
“Our message is clear: we will continue to close loopholes, disrupt illicit networks, and restrict the resources enabling the Kremlin’s aggression,” Lever said.
The UK government said the sanctions are part of ongoing efforts to tighten restrictions on Russia and prevent international financial and commercial networks from being used to support its military operations in Ukraine.