UK suppliers send 100 million dollars of key equipment to Russia

In the first ten months of last year, British suppliers exported more than $100 million worth of critical components, including semiconductors and drones, to Russia.

The Times reported on February 12, citing data prepared by the Kyiv School of Economics and the Ermak-McFall International Working Group on Russian Sanctions.

This figure shows a sharp decline in trade between Russia and the UK compared to 2022, when critical components worth about $770 million were exported. However, almost two years after the start of Russia's full-scale invasion of Ukraine, British technology is still finding its way into the Russian armed forces, often through third parties abroad.

"Despite positive developments in reducing direct trade with Russia, the overall figure remains significant – $112 million. In the tenth month of 2023, indirect trade by British companies grew by 78% in value compared to the same period in 2022," the Times quoted Olena Bilousova, a senior research fellow at the Kyiv School of Economics, as saying.

Many goods manufactured or developed in the UK end up in Russia indirectly, often through Chinese, Hong Kong and Turkish firms. However, there are also several British suppliers who supply millions of dollars’ worth of components to Russia.

The majority of British goods shipped to Russia are semiconductor and computer components, but last year, about $1.5 million worth of UK-made computer numerical control (CNC) machines also entered Russia, which has become a matter of serious concern for Ukraine's allies.

The UK government stated:

"We have imposed the toughest package of economic sanctions ever imposed on a major economy. We have also recently announced the creation of a new Trade Sanctions Implementation Office to strengthen enforcement. Any failure to comply with these tough sanctions is a serious crime and is punishable by heavy financial penalties or criminal prosecution."

Meanwhile, it has become known that the UK is extending its duty-free trade regime with Ukraine until 2029. In this way, the United Kingdom seeks to support Ukrainian business.