Finance and Security in Brief: How to Tackle Sanctions Circumvention?
The international sanctions coalition imposed an unprecedented set of restrictive measures, aiming to restrict Russia’s ability to wage war against Ukraine. However, sanctioned items such as dual-use goods still end up in Russia. How is this possible, and what can we do to tackle this problem?
Russia has become very adept at circumventing sanctions by establishing shell companies and involving trade through third countries. But it has also benefited from a series of weak controls on our part.
To address this challenge, the sanctions coalition is engaging in strong diplomatic talks with third countries to get them to prevent sanctions circumvention. However, we must also ensure that we have a strong and robust regime and put in place the necessary controls to monitor our own products and prevent them from making their way to Russia.
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FEATURING
Kinga Redlowska
Head of CFS Europe
Centre for Finance and Security
Gonzalo Saiz Erausquin
Research Fellow
Centre for Finance and Security
