Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
The United Kingdom has imposed sanctions on a Nigerian entity, Pilot Finance, also known as Continental Global Incentives, for its alleged involvement in supporting a financial network used by Russia to evade international sanctions imposed over its war in Ukraine. The action was announced on Tuesday, June 16, 2026, as part of a sweeping new package of 70 sanctions targeting Russia's so‑called “shadow fleet,” military procurement supply chains, and illicit finance networks.
The British Deputy High Commissioner to Nigeria, Mrs. Gill Lever, disclosed the designation in a statement, confirming that the UK government is intensifying its economic pressure campaign against Moscow. “Today, the UK announced 70 new sanctions aimed at further constraining the Kremlin’s networks and its ability to prosecute its illegal war against Ukraine. These defensive, targeted measures focus on Russia’s shadow fleet, military procurement supply chains linked to Russian military intelligence, and wider illicit finance networks involved in sanctions evasion and political interference internationally,” Lever said.
The Nigerian firm was identified among organisations that, according to British authorities, exploit financial systems to conduct illicit transactions on behalf of the Russian government, thereby undermining the integrity of global financial systems. “This includes the designation of an entity, Pilot Finance (also known as Continental Global Incentives), linked to sanctions evasion activity in Nigeria,” Lever stated. “Entities such as this exploit financial systems to facilitate illicit transactions on behalf of the Kremlin, undermining the integrity of financial systems and exposing jurisdictions to reputational risk.”
The sanctions package also targets third‑country suppliers of key military goods to Russia, as well as financial actors facilitating illicit transactions in China, Thailand, and Türkiye. Prime Minister Keir Starmer said the measures were designed to cut off the vessels, money, and actors sustaining Russia’s war economy. “These sanctions target the vessels, the money and the actors propping up Russia’s war economy and, in turn, threatening European security,” Starmer said.
Foreign Secretary Yvette Cooper noted that the Kremlin had increasingly relied on covert financial networks and ageing vessels to sustain its war effort. “As the Kremlin resorts to ever more shady tactics to sustain its war, from its ageing shadow fleet to covert finance networks, the UK remains one step ahead in shutting them down,” she said.
The British government said it has sanctioned almost 500 individuals, entities, and vessels under its Russia sanctions regime in 2026 alone. The latest measures are part of ongoing efforts to tighten restrictions on Russia and prevent the use of international financial and commercial networks to support its military operations in Ukraine.
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