13 financial firms are accused of facilitating trading on the Russian market. They are therefore under scrutiny by the US Treasury Department.
The US Treasury Department has imposed sanctions on these 13 business entities and 2 individuals. According to a press release from the Treasury Department’s Office of Foreign Assets Control, the majority of the listed firms facilitated the movement of assets or helped OFAC-designated individuals evade sanctions.
The agency announced that five firms are wholly owned and their activities are controlled by OFAC-designated entities. Brian E. Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, says Russia has turned to other financial sources to evade US sanctions: “As the Kremlin seeks to leverage entities in the financial technology space, Treasury will continue to expose and block companies that seek to help sanctioned Russian financial institutions reconnect to the global financial system.” (Date: 25.03.2024)
