US Targets Russian Bank, Oligarchs In New Round Of Sanctions Over Ukraine
NDTV
US placed privately-owned Transkapitalbank under blocking sanctions, which seek to prevent it from accessing global financial networks.
The US Treasury announced fresh punitive measures Wednesday against Russia's Transkapitalbank as well as a sprawling network around oligarch Konstantin Malofeyev which was allegedly used to evade sanctions.
The privately-owned Transkapitalbank was placed under blocking sanctions, which seek to prevent it from accessing global financial networks by forbidding US institutions and individuals, or others with US operations, from dealings with it.
The Treasury said the bank had set up its own internet-based financial transfer system and offered access to banks in China, the Middle East and elsewhere, to enable settlements of US dollar payments without involving the global SWIFT settlement system and avoiding payments transiting the US banking system.
Transkapitalbank's system could allow other institutions and businesses to avoid US sanctions on Russia, which have deepened significantly since Russian troops invaded Ukraine on February 24.
