The U.S. Treasury Department Takes Sanctions Evasion Seriously
The United States Treasury Department has said that they will be concentrating heavily in the upcoming months on targeting intermediaries and third-party providers who are assisting Russia in evading Western sanctions. At a gathering of academics and specialists on sanctions and U.S. foreign policy, Wally Adeyemo, the deputy Treasury secretary, stressed the department’s commitment to combating sanctions evasion, including individuals who may be aiding Russia “wittingly or unintentionally.”
Russian military supply chains being disrupted
Prior to the first anniversary of Russia’s invasion of Ukraine, a conference was conducted to evaluate the progress made in upsetting Moscow’s military supply chains and preventing it from earning money to finance the conflict. Given “the Kremlin’s increasingly desperate attempts to backfill through third parties in permissive jurisdictions, or even turning to international pariahs like Iran and North Korea for (unmanned aerial vehicles) and other weapons,” the Treasury Department claimed that the strain on Russia’s military is evident.
International Concerns Over Russia’s Actions are Growing
The announcement by Adeyemo coincides with growing worldwide apprehension that Russia may begin a military onslaught against Ukraine in the next weeks and months. Despite this, there are indications that the sanctions have not had the negative effects on Russia’s economy that were anticipated. Early this month, the Treasury Department announced penalties on 22 people and organizations from several nations, alleging that they were involved in a network that helped Russia’s military-industrial complex evade sanctions.
Warning to Nations and Companies
The senior Treasury Department sanctions officer, Brian Nelson, recently visited Turkey and the United Arab Emirates to warn governments and companies that doing business with entities that are subject to U.S. sanctions might result in their losing access to G7 markets. The U.S. Treasury Department is committed to enforcing sanctions and taking tough measures against anybody who helps Russia get around these limitations.