News

Jul 11, 2023

UK industry still selling to Russia

British manufacturers have continued to supply Russia with key industrial equipment despite the invasion of Ukraine, analysis of trade data shows. After the full-scale invasion was launched in

British manufacturers have continued to supply Russia with key industrial equipment despite the invasion of Ukraine, analysis of trade data shows.

After the full-scale invasion was launched in February last year, many of Britain’s industrial manufacturers quickly wound down their business relationships with Russia. The government introduced what it described as “sweeping” restrictions on what material UK suppliers could export to Russia, focusing on areas that are big tax-earners for the Kremlin.

Despite government claims that these restrictions are the “most severe economic sanctions ever imposed on a major economy”, trade data acquired by The Times and the investigative group Data Desk shows UK companies have still been permitted to export equipment important for Russia’s fossil fuel and mining industries.

Hill & Smith, the FTSE