U.S. warns about risks of cooperation with Russian banks
The U.S. sanctions regulator has issued a warning to foreign financial institutions about the risks of cooperation with Russian banks abroad. RBC reported.
The press release of the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) notes that Russia is trying to circumvent sanctions «by opening new foreign branches and subsidiaries of Russian financial institutions.»
Foreign regulators and financial institutions «should be cautious» about any transactions with subsidiaries of Russian banks and financial companies, including their attempts to «open new branches,» the U.S. Department of the Treasury warned.
This primarily concerns Russian structures that are not themselves under sanctions, but are planning international expansion. The statement says that the U.S. Department of the Treasury «has a number of tools» to respond to sanctions evasion.
