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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 17, 2025

    Featured image for article about Headlines

    KANANASKIS, Alberta (Reuters) -Britain announced new sanctions on people and groups it said were linked to Russian finance, energy and military operations on Tuesday, including two UK residents it accused of sending high-end electronics to Moscow for the war in Ukraine.

    The two - a Ukrainian and a Polish national living in Britain - had operated "a shadowy network of shell companies" to funnel more than $120 million of technology to Russia, Prime Minister Keir Starmer's office said.

    Six entities had been added to the sanctions list, it added, as well as 20 ships from Russia's so-called "shadow fleet" - vessels that Western powers say are being used to help Russia evade price caps and other limits on its crude oil.

    Britain imposed sanctions on two companies it accused of crewing and managing the vessels. The penalties would also target the Russian GUGI military agency responsible for underwater intelligence, a move that would protect Britain's subsea infrastructure from attack, Starmer's office added.

    “These sanctions strike right at the heart of Putin’s war machine, choking off his ability to continue his barbaric war in Ukraine," Starmer said in a statement.

    Russia's embassy in London did not immediately respond to a request for comment. Russia has previously called Western sanctions illegal and said they destabilise global energy markets.

    Starmer is expected to talk about the sanctions later on Tuesday at the G7 summit in Canada.

    He will say he wants "to work with all of our G7 partners to squeeze Russia's energy revenues and reduce the funds they are able to pour into their illegal war," according to advance excerpts of his remarks released by his office.

    Britain has already imposed sanctions on more than 2,300 individuals, entities and ships since Russia's 2022 invasion of Ukraine.

    Starmer's office said the electronics sent to Russia included many Common High Priority items - advanced components including microelectronics deemed by the U.S. and European Union as likely to be used for Russia's war in Ukraine.

    The two people named in the British statement could not immediately be reached for comment.

    (Reporting by Suzanne Plunkett; Writing by Sachin Ravikumar and Sam Tabahriti; additional reporting by Muvija M; editing by Sarah Young, William James and Andrew Heavens)

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