U.S. issues sanctions to combat Russian sanctions-evasion scheme

15 Jan 2025, 18:21 by Clyde Hughes · UPI

Jan. 15 (UPI) -- The Treasury Department on Wednesday announced sanctions connected with Russian secret payment channels created to skirt U.S. restrictions and a Kyrgyzstan financial institution that supports the Kremlin's military-industrial complex.

The sanctions were established to disrupt payments between actors in Russia and China to facilitate cross-border payments for "sensitive goods." The department said the Kyrgyzstan bank was also involved in the sanction evasion scheme.