The US is urging banks not to help Russia evade sanctions. Firms risk losing access to markets in the United States and Europe if they support Russian businesses facing financial restrictions as a result of the war in Ukraine.
“If you provide material support to a sanctioned individual or a sanctioned entity, we can extend our sanctions regime to you and use our tools to go after you as well,” the Deputy Secretary of the Treasury, Adewale Adeyemo, said in an interview. “I want to make that very clear to these institutions that are domiciled and other countries that may not have taken sanctions actions: that the United States and our allies and partners are prepared to act if they do things that violate our sanctions.”
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion