UK expands sanctions to include Uzbek and Kazakh companies over Ukrainian conflict

BUSINESS 17:26 / 07.11.2024 1548

Among the companies sanctioned is Uzstanex LLP, a part of the StanexGroup holding. The company, which operates in Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan, is involved in the trade and setup of machine tools. According to the UK government’s justification, Uzstanex was implicated in actions that destabilized Ukraine or undermined its territorial integrity, sovereignty, or independence by providing financial services or supplying goods, economic resources, or technologies that could support such destabilization.

In addition to Uzstanex, the UK also imposed sanctions on Kazakhstan-based companies CPS Energy LLP, TOO TawKZ, and Rabadaziya LLP, citing similar reasons related to their involvement in undermining Ukraine’s sovereignty.

These sanctions mirror recent actions taken by the United States. Just a week prior, the U.S. Treasury Department imposed sanctions on Uzstanex, stating that the company acted as a nominal recipient of shipments of machinery from Europe, which were then sent to Shanghai Winsun Imp and Exp Co Ltd in China and subsequently delivered to Russia. The U.S. government claims that these actions contributed to Russia's efforts to evade sanctions.

Another company affected by the UK sanctions is The Elite Investment Group, a manufacturer and supplier of industrial equipment, automatic control systems, and electrical devices. From March to May 2024, this company reportedly supplied approximately $190,000 worth of goods, including electrical transformers, to Russia, including shipments for the Russian company GTS Group, which is already on the U.S. sanctions list.

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