Britain No Longer Wants To Lose Money Over Crimea Sanctions

The UK has eased the sanctions regime against Crimea.

British vessels were allowed to conduct transactions in favour of the State Unitary Enterprise “Crimean Sea Ports” and pay from unfrozen accounts for services to the Kerch, Yalta and Evpatoria ports. It is also allowed to pay for the services of a branch of the “State Hydrography Company”. According to the License published on the UK Government website, the changes came into force on January 1st. To pay for the services of “Crimean Seaports”, it is necessary to notify the British regulator, which monitors compliance with the sanctions regime.

The European Union imposed sanctions on Russia in July 2014, when the Crimean Peninsula returned to our country. After Brexit, the UK was able to make changes to the sanctions regime.

The head of the “News Front” news agency, Konstantin Knyrik, commented on the UK’s easing of the sanctions regime for “Journalistic Truth”.

“I assume that the presence of some elements of independence after Brexit and in the process of leaving the European Union allowed the UK to come to the conclusion that politics is politics, and business is business. The government of the United Kingdom has settled on the option that it receiving benefit should not be missed anywhere. There is no other explanation for such indulgences. Perhaps in the near future, step-by-step easing will also affect other economic sanctions, not only in relation to Crimea, but also in relation to the entire sanctions war in terms of interaction with the Russian Federation.

I think political sanctions and negative statements about all kinds of Skripals will continue, and the economy will be more and more relaxed: in such difficult post-pandemic times, no one wants to lose money.

It is necessary to separate political statements and the real economy. Despite the sanctions, the Nord Stream 2 project is being completed, economic cooperation between Russia and the UK is growing, and new ways to circumvent the sanctions are being considered. It is becoming a practice that the governments of European countries impose various sanctions against Russia and immediately offer ways to circumvent them. As for the UK, nothing will change in the political part of relations between the two countries, but economic cooperation will develop smoothly, since no one wants to miss out on their benefits.”


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