The U.S. Department of the Treasury today announced actions to disrupt Russian sanctions evasion schemes. These actions target a secret payment channel between Russia and China for sensitive exports and designate a Kyrgyzstani financial institution for supporting Russia's military-industrial base.
According to today’s Treasury release:
- These actions aim to counter Russian efforts to bypass U.S. sanctions by establishing regional clearing platforms (RCPs) in Russia and China to facilitate cross-border payments for sanctioned goods. Several Russian and China-based entities involved in this scheme have already been designated under Executive Orders 14024 and 13662. Read TradeNewsFlash
- A Kyrgyzstani bank has been implicated in a sanctions evasion scheme with Russian officials and a U.S.-designated company. The bank facilitated cross-border transfers for Russia's defense industry, and its previous designation under Executive Order 14024, as amended by Executive Order 14114, reflects its role in these activities.