UK blacklists Nigerian firm over alleged Russia sanctions evasion

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United Kingdom

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By Nkiruka Nnorom

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The United Kingdom has sanctioned a Nigerian entity for alleged involvement in sanctions evasion linked to Russia’s war in Ukraine.

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The action was part of a new package of 70 sanctions announced by the UK yesterday targeting Russia’s shadow fleet, military procurement supply chains, and illicit finance networks used to circumvent restrictions.
According to the UK government, the measures focus on third-country suppliers of military goods to Russia and financial actors facilitating illicit transactions.

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Commenting on the sanctions, Deputy High Commissioner, Mrs. Gill Lever OBE, said the designation of of the firm was aimed at closing loopholes exploited to move funds on behalf of the Kremlin.

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“This includes the designation of an entity (the Nigerian firm), linked to sanctions evasion activity in Nigeria,” Lever said.

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“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,” she added.

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The UK described the sanctions as defensive, targeted measures meant to constrain Russia’s ability to sustain its war against Ukraine.

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“Our message is clear: we will continue to close loopholes, disrupt illicit networks, and restrict the resources enabling the Kremlin’s aggression,” Lever said.

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The latest package adds to a series of UK sanctions imposed since Russia’s invasion of Ukraine in 2022, targeting individuals, companies, and networks accused of enabling sanctions evasion and military procurement.

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The UK said the measures are intended to protect the integrity of the international financial system and reduce reputational risk to jurisdictions used in the transactions.

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