Partnership with China facilitated payments for American goods.
The Treasury Department sanctioned over 150 entities and individuals involved in a scheme to help Russia circumvent preexisting sanctions enforced by the United States. A network was established in close partnership with the Russian and Chinese governments, funneling funding through individuals and financial institutions to facilitate “significant transactions” for “sensitive” American goods.
“Today’s actions frustrate the Kremlin’s ability to circumvent our sanctions and get access to the goods they need to build weapons for their war of choice in Ukraine,” said Deputy Secretary of the Treasury Wally Adeyemo. “Today’s expansion of mandatory secondary sanctions will reduce Russia’s access to revenue and goods.”
As the Lord Leads, Pray with Us…
- For the president-elect’s nominee for Treasury Secretary Scott Bessent as he goes through the confirmation process.
- For U.S. treasury officials as they assess the use and efficacy of sanctions.
Sources: Department of the Treasury
