Russian banks circumventing DASKAA - for now

RUSSIA / FSU POLITICS - In Brief 23 Mar 2019 by Alex Teddy

Russian banks and the Finance Ministry are drawing up a plan to get around DASKAA. This will be through correspondent accounts. A non-sanctioned bank would receive USD and pass them through a correspondent account to the sanctioned account. This tactic is not new.In August 2018 the US Congress passed DASKAA which listed seven leading Russian banks to be deprived of access to the US financial system. These were VEB, VTB, Sberbank, Gazprombank, Bank of Moscow, Rosselkhozbank and Promsvyazbank. In February 2019 DASKAA was updated. It does not name banks now but allows the president discretion ...

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