Contents tagged with US Treasury

  • Media: Chinese banks refuse to serve Russians because of sanctions risk

    Russians are facing difficulties working with Chinese banks because of sanctions risks, the newspaper Kommersant reported, referring to the record of the meeting of the Sub-Commission on Cooperation in Financial Fields between Russia and China where this problem was discussed.

    According to the newspaper, the meeting took place on September 27 to 28 in Shenzhen. The parties discussed “barriers that prevent making interbank payments and opening correspondent accounts.” Moscow persistently raised …

  • US Treasury gives companies of Russian tycoon Deripaska extra grace period

    The Office of Foreign Assets Control of the US Treasury Department has once again postponed the deadline by which US investors have to dispose of EN+ and UC Rusal shares and bonds, the department announced on its official website.

    “EN+ and RUSAL have approached the U.S. Government about substantial corporate governance changes that could potentially result in significant changes in control. To allow sufficient time for review, we are extending these licenses until November 12,” the report …

  • Russia threatens to decrease investments in US national debt

    In response to the new U.S. sanctions, Russia will continue to dispose of the U.S Treasury bonds as well as increase payments in national currencies, the Kommersant newspaper reports, citing the statement of the First Deputy Prime Minister of the Russian Federation, Finance Minister Anton Siluanov, made during the broadcast of Russia -1 TV channel.

    "We have reduced investments to a minimum. We will continue to reduce our investments in the U.S. economy and American treasury bonds and will …

  • US Treasury Department imposes sanctions against Russian bank

    On Friday, the US Treasury Department imposed sanctions on a Russian bank, saying that the bank helped North Korea to circumvent the United Nations bans on the nuclear and missile programs of Pyongyang.

    According to the US Department of Treasury, “Moscow’s Agrosoyuz Commercial Bank facilitated a significant transaction on behalf of an individual designated for weapons of mass destruction-related activities in connection with North Korea”.

    The US Treasury’s press release states that the …

  • Russian tycoon Deripaska disagrees with the USA’s conditions for removing his company RUSAL from the sanctions list

    Oleg Deripaska, Russian oligarch and President of United Company RUSAL disagreed with the conditions set by the US Treasury Department for removing the aluminum company from its sanctions list, RBC news agency reports citing its source who is familiar with the process. “The conditions set by OFAC (the US Treasury Department’s Office of Foreign Assets Control) are unacceptable and make no economic sense. It is not possible to accept them,” the source said.

    RBC reports that a source in the …

  • Russia selling off US government debt

    In April, Russia sold out half of the U.S. Treasury bills worth 47.5 billion dollars, leaving a $48.7 billion, according to the data published on the website of the U.S. Treasury.

    Thus, Russia has fallen in the ranking of the US government debt holders from 16th to 22d place. China, holding $1.18 trillion of the US debt, and Japan, with $1.03 trillion, are at the top of the list.

    On June 15, the President of the United States Donald Trump has launched a trade war against China, introducing a 2 …

  • US Treasury Department: providing services to Iranian aircraft may lead to sanctions

    Countries that permit airplanes from Iran to land and be serviced at their airports may face consequences, including sanctions. Acting US Deputy Secretary of the Treasury Sigal Mandelker, who also serves as Under Secretary of the Treasury for Terrorism and Financial Intelligence, announced this on Tuesday while speaking at the Washington-based Foundation for the Defense of Democracies.

     “Countries and companies around the world should take note of the risks associated with granting landing …

  • U.S. Treasury says it will continue sanctions against Russia and Iran

    The head of the U.S. Department of the Treasury, Steven Mnuchin, assured lawmakers at hearings in the Senate that the ministry under his auspices will continue implementing programs to impose sanctions against Russia and Iran, as reported on the Department of the Treasury’s website.

    The hearings, about the department’s budget for the 2019 fiscal year, were held in the Appropriations Committee. “Budgetary funds will also be used in harmony with the Countering America’s Adversaries Through …

  • US Treasury Department accuses Venezuelan President Maduro of drug trafficking and money laundering in Russia

    The United States has accused Venezuelan President Nicolas Maduro and Diosdado Cabello, Maduro's second-in-command in the ruling United Socialist Party of Venezuela, of getting revenue from the drug trade, reported the Voice of America.

    The US Treasury Department published a statement indicating that Cabello had confiscated small quantities of drugs from drug traffickers, collected them in a large batch, and exported them through Venezuela's state airport.

    "Cabello, along with President …

  • US sanctions force Russian tycoon Deripaska to resign from the board of directors of Rusal

    Russian businessman Oleg Deripaska decided to leave the Board of Directors of En+ Group, which is the largest shareholder of aluminum producer Rusal, Deutsche Welle reports.

    The website of En+ Group reports that on Friday, May 18, at the meeting of the Board of Directors at the end of which his Chairman Gregory Barker accepted Mr. Deripaska's resignation, the Board unanimously endorsed the proposals aimed at lifting sanctions against En+ and its subsidiaries.

    It is noted that the so-called …