Ed Conway

More than two years after Putin invaded Ukraine, the war grinds on and despite wave after wave of targeted sanctions, Russia’s economy is growing and banned goods continue to flow into the country. Sky’s Economics and data editor has spent the last year trying to find out how.

UK and EU trade sanctions prohibit the export of sensitive “dual use” goods to Russia but they continue to find their way there before eventually ending up on the battlefield in Ukraine. Starting with the data, Ed Conway revealed the route these goods were taking. Analysing UK customs data, he uncovered a stark pattern; an unprecedented increase in the export of heavy machinery and goods used for optical equipment along with drone parts to a number of former Soviet states. Trade to Kyrgyzstan had risen by over 1,100%. Conway’s data analysis shone a light on the role of third countries in Russia’s circumvention of sanctions. Battlefield-critical goods, made in Britain, were still ending up in Russia. Conway’s work was picked up by politicians and the Secretary for Defence Grant Shapps cited his report in parliament.

Conway returned to the data, expanding his search for unusual trade flows; and he soon found them. While there was a sharp decrease in the export of luxury cars to Russia after sanctions were imposed, there was a corresponding increase to several of its neighbours, with a 1,860% increase in the export of luxury cars to Azerbaijan. He revealed how British cars continued to appear in showrooms in Moscow and confronted car groups and the industry lobbying body with the dramatic data which pointed to the use of third countries to move vehicles into Russia. This discovery was the genesis of a series of in-depth reports which eventually led him to Georgia where he witnessed sanctioned European and British luxury cars being stored close to the border before being taken across. He picked up where the data trail ended, revealing how these cars are moved into Russia evading customs data via various schemes; and all in plain sight.

Ed Conway’s investigation into the failures of the economic war being waged on Russia is unparalleled in terms of its scope, depth and impact. His work has informed politicians and helped shape the work they do in trying to close loopholes and strengthen sanctions and we commend him wholeheartedly for this award.