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Treasury Warns Foreign Banks Against Helping Russia Evade Sanctions

admin by admin
May 14, 2022
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Treasury Warns Foreign Banks Against Helping Russia Evade Sanctions
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In reference to his message to foreign banks, he added: Also, you would not want them to provide material support to Russian oligarchs or Russian companies. “

Russia-Ukraine War: Significant Progress


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Two countries are approaching NATO. Foreign Minister from Sweden When Finland We are ready to meet with NATO counterparts to discuss the possibility of joining the alliance.Russia as a clear retaliation Stop exporting electricity to Finland After saying that NATO enlargement would pose a threat to its own national security.

Is there a possibility of spoilers? The day after Turkey’s President Recep Tayyip Erdogan suggested: He will be reluctant Leader spokesman said to welcome Finland and Sweden to NATO The country wasn’t trying to block It is a potential member of both countries in the alliance, but rather ensures that the security concerns of all member states are taken into account.

On the ground. Russia’s military attacks in eastern Ukraine remain stagnant and Ukrainians continue to attack Around the northeastern city of Kharkov.. The Ukrainian defense minister warned that the war had entered a “new long stage” in a “very tough week”.

War crimes. Ukrainian law enforcement has filed proceedings against Russian soldiers accused of shooting and killing civilians.is First trial including alleged war crimes According to Russian service members. The victim was a 62-year-old man riding a bicycle in a village in the Smee region of Ukraine.

Banks and financial institutions around the world have been working on ways to stay compliant with the new wave of sanctions on Russia.

Citigroup, Russia’s largest US bank with approximately 3,000 employees, had a “lively dialogue” to sell the businesses of Russian consumer and commercial banks. Told Bloomberg this month.

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Citigroup reduced its exposure in Russia to $ 7.9 billion in March, down from $ 9.8 billion at the end of last year. According to the filing.. “Weaponization of this financial service is a huge problem.” Fraser said At this month’s meeting. She said she hopes that global capital flows will split as countries develop new financial systems to avoid over-reliance on Western companies.

Foreign banks operating in the United States may find themselves sandwiched between conflicting demands. In some cases, US sanctions require that long-standing customers be blocked. Those who resisted doing so learned how serious the authorities were about tracking offenders and imposing high fines.

For example, in 2019, a British bank Standard Chartered paid $ 1.1 billion To resolve proceedings filed by the Justice Department, the Ministry of Finance, New York State banking regulators, and state prosecutors for transactions made against Cuba, Syria, Iran, and Sudan in violation of US sanctions. Two years ago, Deutsche Bank paid $ 630 million since it was arrested Help Russian investors steal $ 10 billion secretly To a Western financial center. International giants HSBC and BNP Paribas have also paid billions of dollars over the last decade to settle sanctions violations.

Lanan Nguyen Report that contributed.

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