Britain announced on Friday the imposition of sanctions on three companies and one individual, targeting what it described as the “illicit ‘arms-for-oil’ trade” between Russia and North Korea.
This move follows the United States’ decision to sanction two Russian individuals and three companies for facilitating arms transfers, including ballistic missiles, between Russia and North Korea for use in Ukraine.
“The sanctions highlight the joint malign efforts of Russia and the DPRK (North Korea) to circumvent (U.N.) sanctions on petroleum products, which help facilitate the DPRK’s unlawful military programmes,” the UK government stated.
The statement emphasized Britain’s cooperation with international partners and included a quote from Foreign Secretary David Cameron, who affirmed that Britain would continue to hold both Moscow and Pyongyang accountable for these arms transfers.
“Putin is straining every sinew to sustain his illegal war in Ukraine, even resorting to illicit ‘arms-for-oil’ trade deals with the DPRK, blatantly violating UN sanctions that Russia itself voted for, and vetoing UN Monitoring panels that report on their activity,” Cameron said.
The new British sanctions target Paekyangsan Shipping, known for transferring petroleum products between North Korea and Russia, and Toplivo Bunkering Co (TBK), which allows vessels involved in such transfers to refuel in Russia’s Vostochny Port.
The measures include asset freezes, transport sanctions, and travel bans, extending to the Russian cargo services provider Vostochnaya Stevedoring Co and TBK Director Aleksey Vorotnikov.
Amid these sanctions, Russian President Vladimir Putin, during a visit to China, commented that the U.S. sanctions policy was eroding confidence in the dollar.