The US Treasury allowed transactions with the International Investment Bank until June 30

The US Treasury allowed transactions with the International Investment Bank until June 30


The Office of Foreign Assets Control (OFAC) of the US Treasury issued license, allowing transactions with the International Investment Bank (IIB), controlled by Russia. Operations are allowed until June 30.

“All transactions prohibited by Executive Order 14024 that are regular and necessary to make payments on debt securities issued by the International Investment Bank (IIB) before April 12, 2023 are allowed until 12:01 AM ET (07:01 Moscow time) on June 30 2023,” the license says.

The US Treasury imposed sanctions on the International Investment Bank on April 12. After that, Hungary, where the headquarters of the bank was located, withdrew all its representatives who worked there. Because of the sanctions, the bank's management decided to move the headquarters from Budapest to Russia.

The US Treasury believes that the work of the International Investment Bank allows Russia to expand its "intelligence presence" in Europe and "opens the door for operations of harmful influence" in Central Europe and the Western Balkans. According to the US Department of the Treasury, the bank can be used for corrupt transactions and circumvention of sanctions.

Anastasia Larina



Source link