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UK Treasury Committee examines using profits from frozen Russian assets for Ukraine and sanctions effectiveness; evidence from Bill Browder, insurers and analysts on oil price cap and shadow fleet

Published on: 13 May 2024

Published by a Law360 reporter
Legal News
Article summary

Industry experts will give evidence to the parliamentary Treasury Committee on 14 May 2024 as the Committee continue their broader probe into the effectiveness of the sanctions imposed by Britain on Russia after it invaded Ukraine in February 2022.

Among those due to appear are Emma Hardaker from the Lloyd's insurance market and Bill Browder, the financier and political activist. On 8 May 2024, European diplomats and ambassadors signalled agreement in principle to direct profits derived from seized Russian assets to support Ukraine's war effort. A report issued by the European Parliament in February 2024 indicated that about US$300bn of Russian Central Bank holdings are currently frozen across various jurisdictions...

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