British Foreign Secretary Dominic Raab on Thursday announced anti-corruption sanctions against five individuals who have “deprived developing countries of vital resources.” These are the second set of sanctions imposed by the United Kingdom (UK) under its Anti-Corruption Sanctions Regime.
Celebrating the decision, Raab said, “The UK is committed to fighting the blight of corruption and holding those responsible for its corrosive effect to account. Corruption drains the wealth of poorer nations, keeps their people trapped in poverty and poisons the well of democracy.”
The sanctions include an asset freeze and travel ban and were imposed against five individuals from Equatorial Guinea, Zimbabwe, Venezuela, and Iraq. Consequently, the sanctioned individuals will be barred from entering the country and accessing funds in British banks. Among those sanctioned is Teodoro Obiang Mangue, the Vice President of Equatorial Guinea, for misappropriating funds and soliciting bribes. Furthermore, two individuals from Venezuela—Alex Nain Saab Moran and Alvaro Enrique Pulido Vargas—have been accused of exploiting the public food distribution programme in the already resource-deprived country.
The British government’s statement said that those targeted by the sanctions have “lined their own pockets through misappropriation, with their greed causing untold damage to the countries and communities they exploit.” The statement also highlighted that these steps were critical as over two per cent of the global GDP is lost to corruption each year. Therefore, these actions strengthen the UK’s commitment to combat global corruption.
Following the announcement, United States (US) Secretary of State, Antony J. Blinken and Treasury Secretary, Janet L. Yellen published a joint statement welcoming the UK’s decision. They said that the list included four individuals who were already designated by the United States (US), adding that such corrupt actions “[undermine] democratic institutions, [hinder] economic development, [drain] the wealth of nations, and [keep] people in poverty.” The statement also applauded the UK’s Anti-Corruption Sanctions Regime, which ensures “accountability for corrupt actors” and limits their access to the “international financial system.” For this, the duo vowed to work with the UK and other allies to “protect the global financial system.”
In the first set of anti-corruption sanctions in April, the UK targeted 22 individuals from Russia, South Africa, South Sudan, and Latin America. The list included perpetrators of some of the world’s most serious corruption cases. Among those sanctioned were 14 Russians and three businessmen from South Africa.
UK Introduces Anti-Corruption Sanctions, US Applauds Decision
British Foreign Secretary Dominic Raab announced anti-corruption sanctions against individuals who have “deprived developing countries of vital resources.”
July 23, 2021
SOURCE: GETTY IMAGES