Eurasian Resources Group
The question
To ask the Chancellor of the Exchequer, what steps she is taking to monitor the proposed involvement of UK listed firms in a takeover of Eurasian Resources Group to ensure no benefit to sanctioned Russian entities.
Answered by Lucy Rigby
The Russia regulations prohibit the making available of funds or economic resources to a designated person without a licence. They also prohibit the provision of certain services to designated persons and persons connected with Russia.
UK financial sanctions apply to all persons within the territory and territorial sea of the UK and to all UK persons, wherever they are in the world.
OFSI assesses every instance of reported non-compliance and takes action in all cases where we conclude a breach has occurred.
For serious breaches, OFSI may impose a civil monetary penalty. OFSI may also refer suspected criminal activities to law enforcement partners for investigation.
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