The United States presented a strategy to combat the circumvention of anti-Russian sanctions Russian news EN

US Treasury: US authorities will take new measures against circumventing anti-Russian sanctions

The US authorities plan to implement a strategy to combat various financial violations and crimes, which include, in particular, bypassing anti-Russian sanctions. This is reported TASS with reference to the Ministry of Finance of the country.

The document notes that the plan includes measures to increase transparency in financial activities that are associated with offshore companies, efforts aimed at “preventing the concealment of the identity of violators of the law through the use of shell companies.”

The American authorities will be more active in identifying the assets of Russian entrepreneurs hidden in the jurisdiction of the United States, who are on the sanctions lists. United States Department of the Treasury notes that Russian entrepreneurs allegedly “have tried or are trying to make anonymous and hide bank accounts, securities, real estate, gold and other assets and circumvent financial sanctions.”

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According to the agency, the new strategy should “prevent lawbreakers from abusing anonymous access to the US financial system, using shell companies and through transactions to purchase real estate for cash.”

European Commission proposal

According to Politico, in two weeks the European Commission will present legal proposal according to which sanctions evasion European Union (EU) will be considered a crime. The move should help EU member states confiscate assets that were frozen as part of the sanctions campaign against Russia.

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It is noted that the introduction of criminal liability for circumventing sanctions should become the legal basis for freezing Russian assets. One of the main problems that this amendment should solve is the circumvention of the laws of various European countries (not everywhere the evasion of association sanctions is considered a criminal offense).

By April, the EU countries had already confiscated assets worth about 30 billion euros (we are talking, in particular, about yachts, villas, art objects belonging to individuals or legal entities from Russia).

The ineffectiveness of sanctions

Former Deputy Minister of Economic Development of Italy Michel Geraci declaredthat sanctions against Russia, designed to inflict economic damage on it, will only cause more damage to the economy of the European Union.

We all do it wrong. We impose export bans that will only hurt us

Michelle GeraciFormer Deputy Minister of Economic Development of Italy

The politician questioned the effectiveness of Western economic restrictions and called for diplomacy with Russia.

Also ineffective sanctions considered in Japan. Doctor of Economic Sciences Junichi Yadova, in an article for the Japanese edition of Shukan Gendai, said that Russia’s disconnection from the international SWIFT system did not have the desired effect.

The expert noted that only seven Russian banks fell under restrictive measures, which account for only 30 percent of total banking assets. At the same time, several of the largest banks avoided sanctions, he recalled.

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Also The New York Post, citing experts reportedthat the sanctions of Western countries did not affect Russian shipping.

It is noted that according to data from the Refinitiv tracking system, the volumes of crude oil and oil products shipped from Russian ports rose to 25 million metric tons in April, compared with 24 million in January, February and March 2022.

According to a leading oil analyst at research firm Kpler Matt Smiththe export of Russian black gold actually increased last month.

Russian crude shipments to Italy and other European countries have surged, and countries such as India and Turkey, which do not usually import much Russian Urals oil, have started hunting for discounts and snapped up crude

Matt SmithLeading oil analyst at research company Kpler

The analyst stressed that the Russian side compensates for the losses from the fall in the volume of raw materials exports due to the increase in energy prices.

According to The New York Post, a similar situation is developing in the field of dry cargo transportation.

Russia’s trade with China and Japan has generally remained stable, while the number of bulk carriers bound for South Korea, Egypt and Turkey has increased

Lloyd’s List Intelligence


Specialist in international relations, lecturer at the University of Nottingham Matthew Randall declaredthat sanctions against Russia in the scientific sphere threaten a war between Moscow and Western states.

The expert said that contacts between Russia and the West helped the parties to assess the possibilities, motives and intentions of each other, but now a miscalculation is becoming more and more likely. “This will exacerbate the risk of war,” he stressed.

Also the Deputy Representative of China at UN Dai Bean notedthat sanctions against Russia will not bring peace to Ukraine. According to him, restrictive measures will lead to global crises in energy, the financial sector, as well as in world food security.

Sanctions will not bring peace, but will only increase prices, trigger food, energy and financial crises around the world. And the children of the world will suffer the consequences of the sanctions

Dai BeanChinese Deputy Representative to the UN

President of Russia Vladimir Putin declaredthat citizens of the EU countries and the poorest countries will face the most difficult consequences due to the sanctions imposed by the West on Russia. He noted that restrictive measures largely contribute to the global crisis.

It is obvious that, due to objective economic laws, the continuation of the sanctions obsession, if I may say so, will inevitably lead to the most complex, intractable consequences for the European Union, for its citizens, as well as for the poorest countries in the world, which are already facing the risks of famine.

Vladimir PutinPresident of Russia

The Russian leader, in particular, drew attention to the sharp rise in inflation in European countries.

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