US SAYS THAT BRITISH BANKS WILL HAVE TO CUT TIES TO SANCTIONED OLIGARCHS

Baker McKenzie on 11^th April reported that the US Treasury is warning that British banks will have to sever their relationships with the tycoons if they want continued access to US financial institutions. A top US treasury official is quoted as saying that British banks could face “consequences” if they continued to carry out significant transactions on behalf of the 24 influential Russians recently sanctioned by Washington – including the industrialists Oleg Deripaska and Viktor Vekselberg, along with Kirill Shamalov.

http://www.riskandcompliancehub.com/british-banks-will-have-to-cut-ties-to-sanctioned-oligarchs-u-s-says/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017