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Russian bank and network hit by new US sanctions


The Biden administration said Wednesday it was imposing sanctions on a bank and a network of individuals and entities that the United States says are helping Russia evade sanctions imposed in response to its invasion of China. ‘Ukraine.

The Treasury Department said it was sanctioning a private Russian commercial bank, Transkapitalbank, as well as a network run by Russian oligarch Konstantin Malofeyev, alleging their involvement in attempts to evade sanctions against Russia.

Additionally, the Treasury announced it was sanctioning Russian company Bitriver and 10 of its Russia-based subsidiaries in an effort to target Russia’s cryptocurrency mining industry, which the agency said , helps to monetize Russian exports.

“Treasury can and will target those who evade, attempt to evade, or help evade U.S. sanctions on Russia because they help support Putin’s brutal war of choice,” the undersecretary for terrorism and government said. financial intelligence, Brian Nelson, in a press release.

“The United States will work to ensure that the sanctions we have imposed, in close coordination with our international partners, degrade the Kremlin’s ability to project power and fund its invasion,” Nelson said.

White House national security adviser Jake Sullivan noted in a public appearance last week that the Biden administration was preparing sanctions to crack down on Russian sanctions evasion.

The United States has imposed a series of sanctions on Russia since Russian President Vladimir Putin ordered the invasion of Ukraine in late February. They include sanctions against Russian banks, Russian oligarchs and Kremlin officials and their families. President Biden also banned US imports of Russian energy and signed legislation ending normal trade relations with Russia.

The Treasury said on Wednesday that Transkapitalbank offered services to banks in Asia, particularly in China and the Middle East, and “suggested options to evade international sanctions”, such as using its internet banking system to transact as an alternative to SWIFT international banking communications. system.

Malofeyev, who had been sanctioned since 2014 after Russia invaded Ukraine’s Crimean peninsula, was recently charged by the Justice Department with conspiracy to violate and breach US sanctions.

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