John Healey unveils new actions to stop Russia’s evasion of economic sanctions
Britain's Chancellor of the Exchequer John Healey used his first international meetings with counterparts at the G7 to target covert Russian networks(Image: POOL/AFP via Getty Images)
TL;DR
- UK Chancellor John Healey announced new actions to clamp down on Russia's evasion of economic sanctions.
- The primary action targets the "A7 network," used by Russia to evade restrictions and fund the conflict in Ukraine.
- A nationwide alert against A7 has been issued by the National Crime Agency and the Government to aid the private sector.
- The maximum fine for sanctions breaches will be doubled from 50% to 100% of the breach's value.
- Healey called for increased international cooperation to disrupt Russian financial networks.
- The NCA highlighted its commitment to targeting the nexus between organized crime and sanctions evasion.