US sanctions Russian bank for supporting Venezuela's government

(VOVWORLD) - The US Treasury Department has sanctioned a Moscow-based bank owned jointly by Russian and Venezuelan state companies for evading US restrictions aimed at putting economic pressure on Venezuelan President Nicolas Maduro’s regime.

Evrofinance Mosnarbank was placed on the US sanctions list on Monday, for supporting Venezuela’s state-owned oil company PDVSA, which the US sanctioned in January. US Treasury Secretary Steve Mnuchin said the US will take action against any foreign financial institution that supports the Maduro regime. Evrofinance Mosnarbank, founded in 2011, is jointly owned by Venezuela’s development bank and Russia’s state-controlled Gazprombank and VTB Group

Related News