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30 April 2024 - Are the UK’s Russian financial sanctions working? - Oral evidence

Committee Treasury Committee
Inquiry Are the UK’s Russian financial sanctions working?

Tuesday 30 April 2024

Start times: 10:00am (private) 10:15am (public)

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Opening session of inquiry into Russian financial sanctions to hear from global experts

The Treasury Committee’s inquiry into the UK’s financial sanctions against Russia will hold its first oral evidence session on Tuesday morning. 

Meeting details

At 10:15am: Oral evidence
Inquiry Are the UK’s Russian financial sanctions working?
Director of the Centre for Finance and Security at Royal United Services Institute
Senior Investigations Lead at Transparency International UK
Legal Officer at Redress

In the session, members of the Committee will be questioning world-leading global security and corruption experts from Transparency International, Royal United Services Institute (RUSI) and REDRESS.

In 2022, the Treasury Committee published Defeating Putin: the development, implementation and impact of economic sanctions on Russia.  

In that report, members urged the UK Government to increase the Office of Financial Sanctions Implementation’s resources without delay and cautioned that steps must be taken to prevent Russia circumventing Western sanctions through non-sanctioned Russian reserves and her trade with other countries. 

The Treasury Committee will now probe the effectiveness of the UK’s financial sanctions regime since the beginning of Putin’s illegal invasion of Ukraine, particularly the extent to which it is successfully hampering the Russian economy.  

MPs are expected to examine whether the UK Government’s sanction strategy is working, with a particular focus on the performance of the Office of Financial Sanctions Implementation (OFSI) - a public body affiliated with HM Treasury. 

The Committee may also choose to examine the role of the UK’s financial services sector in implementing sanctions.


The Grimond Room, Portcullis House

How to attend