US Seeks To Curtail Russia's Use Of Int'l Financial System -- Miller
US Seeks To Curtail Russia's Use Of Int'l Financial System -- Miller . (MENAFN - Kuwait News Agency (KUNA)) 
  
WASHINGTON, Nov 21 (KUNA) -- The United States imposed sanctions on 118 individuals and entities, including Gazprombank, that operate in Russia's financial ...
América - MenaFN
(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Nov 21 (KUNA) -- The United States imposed sanctions on 118 individuals and entities, including Gazprombank, that operate in Russia's services sector and "support the Kremlin's war effort."

"These targets include Gazprombank, Russia's largest remaining not previously blocked by the United States, dozens of additional Russian banks still maintaining ties to the international financial system, and individual Russian officials," State Dept. Spokesperson Matthew Miller said on Thursday.

The Department of the Treasury is also issuing an alert describing sanctions risks related to joining Russia's System for Transfer of Financial Messages, which the Kremlin created and uses to evade sanctions.

Today's action reaffirms the U.S. commitment to curtail Russia's ability to use the international financial system to conduct its war against Ukraine and disrupts Russia's attempts to make cross-border payments for dual-use goods and military materiel.

"We will continue to take all appropriate actions to promote accountability for those who enable or profit from Russia's illegal war," Miller added.

Meanwhile, the Treasury Dept. said in a statement that its Office of Foreign Assets Control (OFAC) took another major step in implementing commitments made by G7 leaders to curtail Russia's use of the international financial system to further its war against Ukraine.

OFAC's action includes the designation of Gazprombank, more than 50 internationally connected Russian banks, more than 40 Russian securities registrars, and 15 Russian finance officials.

OFAC is also issuing an alert describing sanctions risks related to Russia's System for Transfer of Financial Messages (SPFS), which the Kremlin created and uses to evade sanctions.

"Today's sanctions targeting Russia's largest remaining non-designated bank, as well as dozens of other financial institutions and officials in Russia, will further diminish and degrade Russia's war machine," said Secretary of the Treasury Janet L. Yellen.

"This sweeping action will make it harder for the Kremlin to evade U.S. sanctions and fund and equip its military.

"We will continue to take decisive steps against any financial channels Russia uses to support its illegal and unprovoked war in Ukraine," she added. (end)

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https://menafn.com/1108913133/US-Seeks-To-Curtail-Russias-Use-Of-Intl-Financial-System-Miller
2024-11-21
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(MENAFN - Kuwait News Agency (KUNA)) 
  
WASHINGTON, Nov 21 (KUNA) -- The United States imposed sanctions on 118 individuals and entities, including Gazprombank, that operate in Russia's financial ...
US Seeks To Curtail Russia's Use Of Int'l Financial System -- Miller