How UK-made cars are getting into Russia despite sanctions

This Is Why

Sky News

News, Daily News, News Commentary

4.0 • 552 Ratings

🗓️ 12 March 2024

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

After Russia invaded Ukraine in 2022, the imposition of sanctions on the country meant direct exports of British-made luxury vehicles fell to zero.

However, Sky News analysis shows that hundreds of millions of pounds worth of luxury cars are being sold to Russia through neighbouring countries.

Notably, Azerbaijan on Russia's southern border, where Britain recorded an unprecedented increase in car exports. In turn, Azerbaijan reported an unprecedented increase in car exports to Russia.

Niall Paterson is joined by our economics and data editor Ed Conway on the Sky News Daily, to explain why luxury vehicles are still finding their way into Russia, and what can be done about it.

Producer: Alex Edden
Assistant producer: Iona Brunker
Editor: Philly Beaumont

Transcript

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1:00.1	Back in 2022, shortly after the invasion of Ukraine, many of the world's biggest economies introduced sanctions that were meant not to just hamstring, but to cripple Russia. Two years on, well,
1:13.5	clearly that hasn't happened. Indeed, Russia's economy is growing at a rate that puts much of the
1:18.2	world to shame. And even more galling than that, it seems that many goods barred from export to
1:24.4	Vladimir Putin's regime are in fact ending up on Russian soil through third-party
1:29.2	countries. The latest of these, British luxury cars worth hundreds of millions of pounds.
1:35.5	I'm Neil Patterson, and on this edition of the Sky News Daily, we'll be asking how and why
1:40.2	this keeps being allowed to happen. Well, the journalist who's done a huge amount of the digging on this story is our very
1:46.8	own economics and data editor, Ed Conway, and he is back in the studio.
1:53.1	Ed, good to see you again.
1:55.1	Before we get into the nitty-gritty, just explain exactly what the state of the sanctions are as regards Russia.
2:03.8	I mean, it's not a complete ban when it comes to cars as it is when it comes to other things.
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