Anti-corruption group Transparency International have catalogued ‘sanctions circumvention’ channelled through ‘unaccountable jurisdictions’
Russian companies have used Britain’s secretive island territories to conduct $8bn (£5.9bn) of trade since the invasion of Ukraine, according to a report that highlights the flow of goods ranging from oil-drilling equipment to luxury yachts linked to Moscow’s political elite.
The analysis, published a day after the fourth anniversary of Russia’s assault on its neighbour, raises questions over the role played by the British overseas territories in enforcing sanctions designed to turn the screw on the Kremlin.
Written in exile by the Russian office of the anti-corruption group Transparency International, the report uncovers trade deals involving more than 150 luxury yachts, dozens of aircraft and equipment destined for Russia’s money-spinning oil sector.
Analysis of 29,000 transactions identified:
