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New U.S. sanctions: Kyrgyzstan’s bank is on the list

The United States has expanded sanctions against the Russian financial sector. Such financial companies as «Transactions and Settlements», FC «Liniya Investitsiy», «Central Depository of Funds» and MC «Evocorp» have fallen under the restrictions. In total, 15 financial organizations and 1 individual were added to the sanctions list. They are accused of circumventing sanctions to support the Russian military industry. A press release of the United States Department of the Treasury says.

According to the statement, sanctions are imposed against the bank from Kyrgyzstan — Keremet. It is noted that the bank was included in the SDN list for participation in a scheme to circumvent restrictions, developed jointly with the Russian authorities and Promsvyazbank, which plays a key role in financing the defense industry of the Russian Federation.

According to the U.S. Department of the Treasury, Keremet Bank «since at least the summer of 2024» helped conduct cross-border transfers on behalf of Promsvyazbank, which has already been under U.S. sanctions since 2022.

The press release also states that the U.S.-designated Russian-Moldovan oligarch Ilan Mironovich Shor has also been involved in the discussions regarding Keremet Bank’s role in the sanctions evasion scheme.

In addition, a controlling stake in Keremet Bank was sold last year to a company linked to the Russian oligarch, which strengthened its role as a hub for circumventing sanctions, the U.S. Department of the Treasury says.

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