The US Treasury Department has announced new sanctions against Russia.
According to the US Treasury's website, Russia has set up a scheme to evade restrictive measures with China and Kyrgyzstan. Russia is trying to simplify cross-border payments for sensitive goods.
‘Under the leadership and support of Russian officials and their counterparts in China, Russia and China are working to establish regional clearing platforms in both Russia and China to act as counterparties to facilitate cross-border payments for sensitive goods. The RCPs facilitate non-cash settlements for payments for so-called sanctioned goods,’ the Ministry of Finance said.
The scheme involves Russian financial institutions previously included in the US sanctions list, such as Sberbank of Russia, Alfa-Bank, Sovcombank, and T-Bank. In addition, Herbarium Office Management LLC, Atlant Trade, Sigma Partners, Transactions and Settlements, as well as Russian banks Roseximbank, Moscow Credit Bank, AK Bars, Moscow Exchange, Keremet Bank (Kyrgyzstan) and others were involved in the transaction.
The sanctions list also includes organisations from the Russian energy sector, such as Gazstroyprom, Polymetal, Rusgazdobycha, Severstal, as well as defence and materials companies: Alexinskiy Khimkombinat, Group Kremniy El, Russian Space Systems, etc.
- On 10 January, the US Treasury announced new sanctions against Russian oil production and exports. The UK also announced similar restrictive measures.
- Meanwhile, for the first time, the European Commission will try to impose sanctions against Russia (the 6th package) without taking into account the possible veto of Hungary or Slovakia. These are trade restrictions.