New UK Sanctions Target Russia And North Korea’s ‘Arms-For-Oil’ Trade

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New UK Sanctions Target Russia And North Korea's 'Arms-For-Oil' Trade

Britain announced on Friday that it has imposed sanctions on three companies and one individual involved in what it described as the “illicit ‘arms-for-oil’ trade” between Russia and North Korea.

This move came after the United States decided to impose sanctions on two Russian individuals and three Russian companies for their role in facilitating arms transfers between Russia and North Korea, which included ballistic missiles intended for use in Ukraine.

“The sanctions highlight the joint malign efforts of Russia and the DPRK (North Korea) to circumvent (U.N.) sanctions on petroleum products, which help facilitate the DPRK’s unlawful military programmes,” the government said in a statement.

The statement indicated that Britain was acting “in collaboration with international partners” and cited Foreign Secretary David Cameron as saying Britain would continue to hold Moscow and Pyongyang accountable for these arms transfers.

“Putin is straining every sinew to sustain his illegal war in Ukraine, even resorting to illicit ‘arms-for-oil’ trade deals with the DPRK, blatantly violating UN sanctions that Russia itself voted for, and vetoing UN Monitoring panels that report on their activity,” he said.

Britain announced that the new sanctions targeted Paekyangsan Shipping, responsible for transferring petroleum products between North Korea and Russia, and Toplivo Bunkering Co (TBK), which allows vessels involved in these transfers to bunker at Russia’s Vostochny Port.

The measures include freezing assets, transport sanctions, and travel bans, and also affect Russian cargo services provider Vostochnaya Stevedoring Co and TBK Director Aleksey Vorotnikov, the statement said.

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