UK slaps sanctions on Uzbek company Mvizion

By Muzaffar Ismailov in Tashkent December 7, 2023

The British government has announced the imposition of sanctions against a new group of individuals suspected of supporting the "Russian military machine". The list includes 46 individuals and legal entities associated with the defence industry of the Russian Federation, including the Uzbek company Mvizion.

According to Whitehall, the Uzbek company "acted as an intermediary for the supply of parts to Russia [for military equipment]". The sanctions list also contains the names of several enterprises from Belarus, China, the UAE, Serbia and Turkey.

At the moment, over 30 companies from third countries are under British sanctions for supporting Russia in the conflict with Ukraine. Mvizion is the first company from Uzbekistan on the list.

In November, the US Department of Commerce imposed export restrictions against Mvizion. The company was included in the Entity List as a participant in schemes for the purchase and development of drones for the Russian army.

Mvizion was established in June 2022 and is engaged in the "wholesale trade of electronic, telecommunications equipment and spare parts for it," according to open data.

In addition, London imposed sanctions against four companies from the UAE, allegedly involved in the shadow trade of Russian oil.

Bne IntelliNews has previously reported Uzbekistan as saying it will provide the European Union with statistical data to help assess the extent of the circumvention of Western sanctions aimed at Russia.

Related Articles

South Africa looks to BRICS+ bloc of nations to grow agriculture exports

South Africa plans to take advantage of upcoming summit of the BRICS+ group of nations in Russia to secure more markets for its agriculture exports, according to Business Report. Wandile Silholo, ... more

Russia’s Bank Saint Petersburg maintains 32% ROE in 9M24

Russian Bank Saint Petersburg (BSPB) posted Russian Accounting Standards (RAS) profit of RUB15.6bn and RUB40.5bm ($0.4bn) its 3Q24 and 9M24, respectively, making a return on equity (ROE) of 32% and ... more

Russia’s Sberbank makes 26% ROE under RAS in September

Russia’s largest state-controlled bank Sberbank (Sber) posted a Russian Accounting Standard (RAS) net profit of RUB141bn in September and RUB1.19 trillion in 9M24 overall, making a return on equity ... more

Dismiss