Thursday 2 March 2023

US to launch new crackdown on Russian sanctions busting | Financial Times - #UAE #Turkey

US to launch new crackdown on Russian sanctions busting | Financial Times


The US will launch a renewed crackdown on countries and individuals helping the Kremlin evade western sanctions amid growing fears Russia is fuelling the war in Ukraine by funnelling imports through countries such as the United Arab Emirates and Turkey. 

The push by the US Treasury, commerce and justice departments, details of which were obtained by the Financial Times, comes as western allies increasingly believe Turkey and the UAE, as well as countries in central Asia and the Caucasus, have emerged as the weak links in their efforts to isolate Russia both economically and militarily. An announcement is expected later on Thursday. 

“Those who attempt to prop up Putin’s war machine by evading our export controls and sanctions will be held accountable,” Matthew Axelrod, assistant secretary of commerce for export enforcement, said in a statement. 

Elizabeth Rosenberg, the assistant Treasury secretary for terrorist financing and financial crimes, said at a closed event on Thursday that the UAE was also a “country of focus” for the US.

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