In the Netherlands, a 56-year-old Russian entrepreneur was sentenced to 18 months in prison for violating the sanctions imposed on Russia due to the war in Ukraine. He will also pay a fine of 200,000 euros.
The Russian was arrested during a Fiod operation in Gorssel at the end of September last year. The financial investigation service tracked down the man following a report from the bank about the inflow of foreign money into his bank account. It was revealed that he had been selling microchips to Russia for seven months through his one-man company.
The Russian native has been dealing in microchips and electronic goods through his company in Gorssel for six years. When sanctions were imposed following Russia’s invasion of Ukraine, the man tried to get around them by sending fake invoices to Russian buyers in the Maldives. Through these companies, the goods fell into the hands of Russian arms industry and defense companies.
Revenue model
The judge concludes that it has been proven that the entrepreneur consciously tried to evade sanctions by designing a U-turn. According to the court, the purpose of the punitive measures, namely the shutdown of critical technology for Russia’s defense resources, was “seriously undermined.”
“After the sanctions were announced, the suspect was actually offered to bypass the sanctions as a ‘revenue model’,” the decision said. It was also alleged that he did not care about the “serious consequences” of his actions.
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
