UK imposes new sanctions against Russia, North Korean companies
Category
Economics
Publication date

UK imposes new sanctions against Russia, North Korean companies

Government of Great Britain
UK

Earlier, Great Britain announced a new package of sanctions against Russia and North Korea.

Which Russian and North Korean companies had come under British sanctions?

It is noted that two Russian and one North Korean companies have come under restrictions because they are trying to violate or circumvent UN sanctions against North Korea and trade weapons in exchange for oil.

In particular, the following were subject to restrictions:

  • The Russian "Vostochnaya stevydornaya kompaniya", operating in the port of Vostochny, is a Russian provider of cargo services;

  • Russian "Toplivno-bunkernaya kompaniya" (TBK) for permission for ships involved in the transportation of oil to North Korea to work in the Russian port of Vostochny;

  • Alexei Mikhailovych Vorotnikov, director of TBK;

  • the North Korean company Paekyangsan Shipping Co Ltd operates under the DPRK-flagged Paek Yang San 1 and promotes North Korea's military programs by transporting petroleum products between Russia and North Korea.

Britain will apply certain restrictions to these three companies and the individual, including an asset freeze, a travel ban to the United Kingdom and transport sanctions.

The sanctions package confirms the fact that Russia will not be able to hide its illegal partnership with North Korea after its veto by the UN Panel of Experts, writes the United Kingdom government.

North Korea receives large quantities of oil from Russia

The Russian Federation supplies oil products to North Korea in volumes that violate the restrictions established by the UN Security Council.

Russia sent oil products from the port of Vostochny to North Korea. Russian supplies have already pushed North Korean imports above the 500 barrels per year set by the UN Security Council, a US official said on condition of anonymity.

According to the official, the Russian Federation can continue supplying oil "to infinity" since Russian and North Korean commercial ports are located close enough to each other.

At the same time, the official emphasised that the US will continue to apply restrictions "against those who work to facilitate the transfer of weapons and oil products between Russia and North Korea."

The UN Security Council imposed restrictions on North Korea's oil imports in 2017 in response to its nuclear weapons tests. Under these restrictions, North Korea can receive only 500,000 barrels of oil and petroleum products per year.

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