Question to the Foreign, Commonwealth & Development Office:

To ask His Majesty's Government what steps they are taking with respect to the effective enforcement of sanctions against Russian entities and individuals.

The UK is committed to ensuring that our sanctions are robustly enforced and potential breaches are investigated and appropriate action taken. Departments from across HMG including HMT (through the Office of Financial Sanctions Implementation (OFSI)), HMRC, Home Office, and NCA, are working together, and with UK companies, to promote compliance and ensure that sanctions are enforced.

Since 2022, HMRC has imposed fines in excess of £1.3 million to five UK companies relating to the unlicensed trade of goods in breach of the Russia sanctions regime. In August, OFSI also published an enforcement notice against Wise Payments Limited (Wise), a Financial Conduct Authority (FCA) regulated company, for breaching Russia sanctions by making funds available to a company owned or controlled by a designated person.

The Government announced a new Economic Deterrence Initiative in the 2023 Integrated Review Refresh. With funding of up to £50 million over two years, the initiative is maximising the impact of our trade, transport and financial sanctions, including by improving our sanctions implementation and enforcement.