Dec. 18 2023
Source Page: The Russia (Sanctions) (EU Exit) (Amendment) (No.4) Regulations 2023: RPC Opinion (Green-rated)Found: The Russia (Sanctions) (EU Exit) (Amendment) (No.4) Regulations 2023: RPC Opinion (Green-rated)
Asked by: Neil Coyle (Labour - Bermondsey and Old Southwark)
Question to the Foreign, Commonwealth & Development Office:
To ask the Minister of State, Foreign, Commonwealth and Development Office, what assessment he has made of the potential merits of sanctioning individual vessels involved in the transportation by sea of Russian oil since 2022.
Answered by Anne-Marie Trevelyan - Minister of State (Foreign, Commonwealth and Development Office)
The UK has sanctioned over 2000 individuals and entities under the Russia sanctions regime, including those who support Russia's efforts to circumvent UK and G7 oil sanctions. We will build on this action by enhancing our power to sanction individual vessels under the Russia sanctions regime. The enhanced power will allow us to be even more targeted and will increase Russia's costs further, including where Russia uses the shadow fleet to export its oil by sea.
Jan. 31 2024
Source Page: Putin’s War of Aggression has come at a significant cost to Russia and galvanised democratic nations: UK statement to the OSCEFound: Putin’s War of Aggression has come at a significant cost to Russia and galvanised democratic nations:
Dec. 29 2023
Source Page: Yet another brutal attack by Russia against the Ukrainian people: UK statement at the UN Security CouncilFound: Yet another brutal attack by Russia against the Ukrainian people: UK statement at the UN Security Council
Apr. 11 2024
Source Page: Russia has procured ballistic missiles and artillery shells from North Korea for direct use against Ukraine: UK statement at the UN Security CouncilFound: Russia has procured ballistic missiles and artillery shells from North Korea for direct use against Ukraine
Dec. 07 2023
Source Page: While Russia is isolated the international community is united: UK statement to the OSCEFound: While Russia is isolated the international community is united: UK statement to the OSCE
Nov. 01 2023
Source Page: Russia aligns with authoritarian regimes out of desperate necessity: UK statement to the OSCEFound: Russia aligns with authoritarian regimes out of desperate necessity: UK statement to the OSCE
Dec. 06 2023
Source Page: Russia is diminished in the eyes of the international community through its own actions: UK statement to the OSCEFound: Russia is diminished in the eyes of the international community through its own actions: UK statement
Asked by: Stephen Doughty (Labour (Co-op) - Cardiff South and Penarth)
Question to the Foreign, Commonwealth & Development Office:
To ask the Minister of State, Foreign, Commonwealth and Development Office, what assessment he has made of the involvement of UK-based (a) insurers, (b) insurance markets and (c) shipping companies in the provision of services for the (i) export of goods to and (ii) import of goods from Russia.
Answered by Anne-Marie Trevelyan - Minister of State (Foreign, Commonwealth and Development Office)
The UK has introduced a comprehensive set of import and export restrictions on Russia. This has led to a 94 per cent fall in Russian imports into the UK and a 74 per cent fall in UK exports to Russia. Over £20 billion of UK-Russia bilateral trade (from 2021 figures) is now under full or partial sanction.
As well as banning the import and export of goods and technology, UK nationals and companies are prohibited from providing ancillary services which enable their trade, including financial services and funds which includes insurance, brokering and technical assistance.
The UK, alongside the G7 and Australia, has also banned the import of Russian oil and oil products. This substantially reduces the size of the global market for Russian oil and oil product exports.
Importantly, we have also created the Oil Price Cap which operates globally by prohibiting UK and G7+ firms from providing services such as shipping, insurance, and finance to facilitate the maritime transport of Russian oil and oil products to third countries, unless the oil was purchased from Russia at or below the cap. By limiting the price of Russian oil and oil products exported to third countries rather than restricting maritime services altogether, we restrict the revenues flowing to the Russian state and undermine Putin's ability to fund his illegal war in Ukraine, while still enabling oil to flow in a tight market and ensuring that third countries can continue to secure affordable oil.