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.
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more