The US Treasury Secretary believes that the fight against attempts to evade sanctions against Russia is yielding results

Washington's warning about the possible introduction of sanctions against foreign financial institutions has contributed to a decrease in monetary transactions between Russia and such countries as Turkey, the UAE and Kazakhstan, Deputy Finance Minister Wally Adeyemo said.

 

According to him, the data in the possession of the ministry, including reports of financial institutions, indicate a decrease in the movement of money after the US administration issued a decree in December that threatened sanctions on financial institutions from those countries that help Russia avoid Western sanctions imposed after the invasion of Ukraine.

- From what we see, I notice a significant difference in financial flows related to transactions... of potentially blocked entities. And I've heard from some observers ... that they are now much more cautious about doing business with Russia, and that's what we wanted, he said.

According to Adeyemo, many foreign banks took Washington's decree seriously after the document stated that secondary sanctions would be resorted to. The secondary stations are targeted against foreign persons or companies that conduct business with those who are already under US sanctions. Washington has not yet activated this decree for the introduction of sanctions against foreign banks and financial institutions.

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