Treasury Disrupts Russia’s Sanctions Evasion Schemes

Actions expose a secret payment channel for sensitive exports and target a Kyrgyzstani financial institution for supporting Russia’s military-industrial baseWASHINGTON — Today, the U.S. Department of the Treasury is moving against Russian efforts to evade U.S. sanctions. This action targets a sanctions evasion scheme established between actors in Russia and the People’s Republic of China (PRC) to facilitate cross-border payments for sensitive goods. In addition, Treasury is designating a Kyrgyz Republic-based financial institution that coordinated with Russian officials and a U.S.-designated bank to implement a sanctions evasion scheme.Treasury is also reinforcing the grave risks foreign persons face in continuing to work with Russia’s military-industrial complex by re-designating pursuant to Executive Order (E.O.) 13662 almost 100 entities already designated pursuant to E.O. 14024. As a result of these entities’ designation pursuant to E.O.