BNE Intellinews on 24th February reported allegations that Danske Bank laundered money for the Ukrainian arms mafia’s sanctions-busting activities in North Korea and Iran as early as 2009.  In December 2009, Thai police intercepted a flight en route from North Korea to Iran loaded with 40 tonnes of weaponry, including anti-aircraft rockets. UN investigators established that Danske Bank had laundered money from the deal, the aircraft having been chartered by a New Zealand shell firm, SP Trading Ltd, which banked at Danske Bank’s Estonia branch and, according to the UN, the deal was masterminded Iurii Lunov, a Ukrainian citizen, and Aleksandr Zykov, a citizen of Kazakhstan.  The article claims that Danske Bank continued its relationship to Ukrainian arms traders and processed cash from Equatorial Guinea 2010-14, with money going to Ukrainian arms traders incorporated as a UK shell firm.  It notes that Ukrainian Vladimir Yevdokimov, who was convicted of arms smuggling, is now apparently Russia’s honorary consul to Equatorial Guinea, and still has high ranking connections in Ukraine.


Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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