Russia: Sanctions

(asked on 2nd March 2022) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what discussions officials in her Department have had with representatives of British Overseas Territories to ensure that cryptocurrency exchanges based in those territories are not used by (a) individuals trying to evade sanctions related to the Russian invasion of Ukraine and (b) the Russian state for the purposes of purchasing materials for the war in Ukraine.


Answered by
James Cleverly Portrait
James Cleverly
Home Secretary
This question was answered on 7th March 2022

The United Kingdom's sanctions regimes apply to all of the Overseas Territories, who work with the UK Government to implement these regimes. The Overseas Territories are committed to upholding international standards in financial services, including those set by the Financial Action Task force on anti-money laundering and countering terrorist financing. This includes requirements on regulating virtual assets.

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