US sanctions Russian bank for trying to circumvent Venezuela sanctions

The USA has designated Evrofinance Mosnarbank, a Moscow-based bank owned by Russian and Venezuelan state-owned companies, pursuant to Executive Order 13850. The bank is said to have “materially assisted, sponsored or provided financial, material or technological support” to PdVSA, the Venezuelan state-owned oil company. The press release states that these US secondary sanctions “target foreign financial institutions that have materially...