Ukraine: UK bans all Russian oil imports from end of 2022 March 8, 2022 The UK will ban all imports of Russian oil and oil products from the end of this year in response to the invasion of Ukraine, business secretary Kwasi Kwarteng has announced. Kwarteng said the government would provide support to businesses in managing the transition, while also saying that he is “exploring options” in regards to [...]
Former Mishcon de Reya partner fined £17,500 for breaching anti-money laundering laws March 8, 2022 A former partner at London firm Mishcon de Reya has been ordered to pay £21,000 for his role in a money laundering scandal, which in January led to Mishcon being hit with a record £232,500 fine. The Solicitors Regulation Authority (SRA) fined former Mischon partner Michael Nouril £17,500 and told the M&A lawyer he must [...]
Ofgem boss: Hike in household energy bills ‘almost inevitable’ March 8, 2022 Ofgem boss Jonathan Brearley has warned a further painful hike in household energy bills is “almost inevitable."
Ukraine’s secret weapon: High-tech drone ‘the Punisher’ is wreaking havoc far behind Russian enemy lines March 8, 2022 A re-deployable drone called ‘The Punisher’ is increasingly making life difficult for the Russian Army by destroying crucial supply lines. The relatively small, nimble drone can travel up to 30 miles behind Russian enemy lines and is extremely hard to detect. When flying at about 1,300 feet, it can stay up in the air for [...]
Premier League suspend broadcast deal in Russia over Ukraine invasion March 8, 2022 The Premier League has today suspended its broadcast deal with Russian broadcast partner Okko Sport over the country’s invasion of Ukraine. The organisation will also donate £1m to support the Ukrainian people. This comes days after Chinese state broadcasters refused to show parts of Premier League games where there would be organised displays of solidarity [...]
US ramps up sanctions with plans to ban Russian oil imports March 8, 2022 The US is expected to impose ban on Russian oil imports as it ramps up sanctions following the country's invasion of Ukraine.
Man of steel: Russian oligarch Vladimir Lisin comes out against Putin by calling for immediate end to Ukraine war March 8, 2022 Oligarch Vladimir Lisin, the chairman and main shareholder of the NLMK Group, one of Russia’s largest steel makers, has called for an immediate end to the Russian war in Ukraine. The Moscow-based billionaire reportedly sent a letter to NLMK staff, which was subsequently widely shared on social networks. The steel tycoon wrote that “the death [...]
EU court rules against Britain in £2.2bn import fraud case March 8, 2022 The European Union's highest court has ruled against Britain in a fraud case involving billions of pounds worth of import fraud.
Russia-Ukraine war to deliver £90bn blow to UK economy March 8, 2022 Russia’s war with Ukraine will deal a £90bn blow to the UK economy driven by a worsening cost of living crunch sending the British consumer into retreat, reveals fresh forecasts published today. Soaring energy prices as a result of Moscow sending troops in Ukraine will feed already historic high inflation in Britain, heaping even further [...]
Chancellor pressures asset managers to cut ties with Russia March 8, 2022 The Treasury has ramped up pressure on asset managers to dump their holdings in sanctioned Russian firms, with chancellor Rishi Sunak hosting top industry bosses last week to discuss divestment.