Finance
Russians could face jail for divulging logistics of sanctioned goods
Published by Global Banking and Finance Review
Posted on January 24, 2025
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Published by Global Banking and Finance Review
Posted on January 24, 2025
MOSCOW (Reuters) - A Russian draft law proposes punishment of up to seven years in prison and heavy fines for the public disclosure of information about the supply chains of sanctioned goods imported into Russia and about payment systems.
Russia still relies on many high-tech goods produced in the West, such as microchips, which are banned for export to Russia. These goods are essential for keeping many Russian industrial enterprises operational, including in the defence sector.
To bypass Western sanctions, including those imposed over the conflict in Ukraine, Russia has established complex logistical schemes through intermediaries in third countries and an international transactions infrastructure.
"In the current context of external sanctions pressure, maintaining the established production and technological chains that ensure the strategic development of the Russian economy acquires special significance," said an explanatory note for the draft submitted to parliament by the government.
Many Russian officials and businesspeople have been calling for logistics and payments information to be classified as a state secret.
The authors of the draft referred to websites disseminating leaked customs data, as well as information appearing in traditional media or on social media about logistics schemes for delivering sanctioned goods.
The draft's explanatory note said the objective of such items was "to harm specific economic entities, sectors of the economy, and, more broadly, the economic interests of Russia."
(Reporting by Gleb Bryanski, Editing by Timothy Heritage)