US AUTHORITIES PUT TRADE FINANCE BANKS ON ALERT OVER RUSSIA EXPORT CONTROL EVASION ATTEMPTS

On 13 July, Global Trade Review reported that US authorities have issued an alert urging trade finance providers to deploy “increased vigilance” when watching for possible evasion of export controls by Russian and Belarusian entities.  It calls on banks that are financing transactions, processing payments or performing other services related to trade to help detect Russian and Belarussian evasion attempts.  There are growing fears Moscow may use illicit smuggling networks to disguise the types of goods being traded, or the end destination of a shipment, as a means of evading export controls.

https://www.gtreview.com/news/americas/us-authorities-put-trade-finance-banks-on-alert-over-russia-export-control-evasion-attempts/

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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