Gupta latest: UK imposes sanctions on brothers for corruption in SA

The UK Foreign Secretary announced new sanctions on “individuals involved in some of the world’s most serious cases of corruption” which included the Gupta brothers.

In a statement on Monday, 26 April, UK Foreign Secretary Dominic Raab said Global Britain is standing up for democracy, good governance and the rule of law.

Gupta brothers

22 PEOPLE INCLUDING GUPTA BROTHERS SANCTIONED

The UK for the first time imposed asset freezes and travel bans against 22 individuals under the new Global Anti-Corruption sanctions regime which gives the UK unprecedented power to stop corrupt actors profiting from the UK economy.

According to the statement Ajay, Atul and Rajesh Gupta and their associate Salim Essa has been targeted for their roles in serious corruption. “They were at the heart of a long-running process of corruption in South Africa which caused significant damage to its economy.”

The Guptas connections, personally and through their company, Oakbay Investments, have been the subject of extensive international scrutiny and caused much political controversy.

Raab said corruption has a corrosive effect as it drains the wealth of poorer nations.

“Corruption has a corrosive effect as it slows development, drains the wealth of poorer nations and keeps their people trapped in poverty. It poisons the well of democracy. The individuals we have sanctioned today have been involved in some of the most notorious corruption cases around the world.”

Over 2% of global GDP is reportedly lost to corruption every year, and corruption increases the cost of doing business for individual companies by as much as 10%.

UK TO COMBAT SERIOUS CORRUPTION AND BRIBERY

This new regime will allow the UK to combat serious corruption, in particular bribery and misappropriation.

“Global Britain is standing up for democracy, good governance and the rule of law. We are saying to those involved in serious corruption: we will not tolerate you or your dirty money in our country,” said Raab.

The UK will continue to use a range of means to tackle serious corruption around the world, including funding the International Corruption Unit in the National Crime Agency. The International Corruption Unit and its predecessors have restrained, confiscated or returned over £1.1 billion of stolen assets, stolen from developing countries since 2006.

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