The US Treasury Department has claimed that Moscow’s financial institutions evade sanctions by opening subsidiaries in third countries Nations which maintain economic ties with Russia risk secondary sanctions if they allow Russian banks to open local branches to facilitate bilateral trade, the US Treasury’s Office of Foreign Assets Control (OFAC) stated on Friday. The measures are aimed at closing workarounds that Moscow is said to be using to circumvent the existing sanctions. The Treasury Department has claimed that the Russian authorities are utilizing vague schemes to pay for dual-use goods that are allegedly
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