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U.S. announces action to curb attempts to evade Russian sanctions

U.S. announces action to curb attempts to evade Russian sanctions
U.S. Treasury Secretary Janet Yellen delivers remarks at the White House in Washington, D.C., on February. The Treasury Department announced new sanctions against individuals and entities trying to help evade Russian sanctions. Photo by Yuri Gripas/UPI | License Photo

April 20 (UPI) -- The United States on Wednesday announced a new round of sanctions targeting Russian entities and individuals trying to evade sanctions already imposed by the United States and allies.

The U.S. Department of Treasury's Office of Foreign Asset Control targeted Russian commercial bank Transkapitalbank along with a global network of more than 40 people.

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"Treasury can and will target those who evade, attempt to evade, or aid the evasion of U.S. sanctions against Russia, as they are helping support [Russian President Vladimir] Putin's brutal war of choice," said Under Secretary for Terrorism and Financial Intelligence Brian E. Nelson in a statement.

The Treasury Department said the new sanctions are being imposed to disrupt worldwide sanctions evasion efforts by Russia and include targets in Russia's virtual currency mining industry.

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The new sanctions were imposed as U.S. Treasury Secretary Janet Yellen walked out of a G20 session Wednesday in Washington, D.C., along with European and Western officials to protest Russia's invasion of Ukraine.

Yellen walked out when the Russian Finance Minister Anton Siluanov began his remarks via virtual video feed.

Ukrainian Finance Minister Sergii Marchenko joined Yellen and European officials in the walkout. Chinese and Indian G20 delegates did not protest the Russians.

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Joining the G20 walkout protest were Jerome H. Powell, the Federal Reserve chair, Chrystia Freeland, Canada's deputy prime minister and minister of finance, Christine Lagarde, the president of the European Central Bank and Andrew Bailey, the governor of the Bank of England.

Freeland tweeted that "The world's democracies will not stand by idly in the face of continued Russian aggression and war crimes."

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