Contents tagged with US Treasury

  • Venezuelans transfer $300 million to Russian banks

    The amount held by Venezuelan entities in Russian banks grew by 29% to $1.16 billion in the fourth quarter of 2018, according to statistics from the Bank of Russia. Venezuelan companies and individuals transferred $337 million to Russian credit organizations over the three month period.

    This increase could be the result of Venezuelans transferring funds from American banks due to the risk of sanctions, observes analyst Dmitry Monastyrshin from Promsvyazbank. “It could be legal entities or …

  • Russia increases investment in US Treasury securities to $145 billion

    In February, Russia increased its investment in US government securities to $ 14.5 billion according to data from the US Department of the Treasury. Of the invested amount, $ 6.9 billion went to long-term bonds and $7.5 billion to short-term bonds. In January, Russia's investment in US government securities amounted to $13.1 billion.

    In 2018, the Central Bank of Russia increased its gold reserves by a record 274.3 tons, becoming the largest buyer of the metal. These purchases were carried out …

  • Russian tycoon Oleg Deripaska sues the US Treasury Department and Secretary Steven Mnuchin

    Russian billionaire Oleg Deripaska intends to make US authorities cancel the personal sanctions against him through the courts. The businessman intends to sue the US Treasury Department and Secretary Steven Mnuchin for damages equal to $7.5 billion in estimated losses.

    Deripaska’s lawsuit appeared in the US judicial database and was referred to the Court of the District of Columbia. Deripaska stated that he was included in the US sanctions as a result of the political struggle over Russia's …

  • Media: Russia increases oil shipments to the US amid Venezuela crisis

    At least nine tankers delivered 3.19 million barrels of Russian oil and oil products to American ports during the week between 23 February and 1 March, RBC news agency reports, citing a notice sent out by the investment bank Caracas Capital Markets, which specializes in Venezuela. The bank believes that the increase in Russian oil shipments to the US is a result of “the US market adapting to the loss of Venezuelan oil”.

    Most of the shipments in the last week of February were either naphtha or …

  • US Treasury Department lifts sanctions from three Deripaska companies

    On Sunday, the US Treasury Department announced that it was lifting the sanctions previously imposed on three companies associated with Russian oligarch Oleg Deripaska: US Rusal PLC, En + Group PLC and JSC EuroSibEnergo.

    The decision was made despite the demands of Democrats in Congress to keep the restrictions imposed on these companies. Earlier, Republican legislators who hold the majority in the Senate blocked an attempt to keep the sanctions in effect.

    According to the administration, …

  • US Treasury blocks sale of Russian aircraft to Iran

    The US Treasury Department refused to issue an export certificate for the sale of Russian aircraft Sukhoi Superjet 100 to Iranian airline companies. The US Treasury substantiated the ban by stating that more than 10% of the aircraft parts are manufactured in the US.

    Iran has entered into a preliminary agreement on the purchase of 40 SSJ aircraft for local Aseman Airlines and Iran Air Tours from Russia. Tehran stated that in the absence of US approval, the delivery of aircraft is out of the …

  • US imposes new sanctions on Russia

    The US Treasury’s Office of Foreign Assets Control (OFAC) has decided to impose new sanctions on Russia in response to Russia’s constant disregard for international laws, the department announced in a press release on December 19.

    The OFAC announced new restrictions on a former officer of Russia’s Main Intelligence Directorate (GRU) who acted in the interests of Russian oligarch Oleg Deripaska.

    The new sanctions also affect 15 GRU staff members for a wide range of criminal activity, including …

  • Russia increases its investments in U.S. government bonds

    Moscow has again increased its investments in the United States government bonds after the several months’ break, according to the U.S. Treasury data, published on Friday, November 16.

    "In September, Russia's investments in the U.S. national debt amounted to $ 14.419 billion, in August - $ 14.097 billion," said the report.

    At the same time, Russia is more intensively investing in U.S short-term government bonds and less - in Treasury securities with a maturity of more than one year. Short- …

  • Volker: New US sanctions acknowledge Russia’s control over Donbas

    The financial sanctions on Russia which the US Treasury Department announced on November 8 are the first to officially recognize that Russia has complete control over the situation in the Donbas, said Kurt Volker, The US State Department’s Special Representative for Ukraine, Voice of America reports.

    For the first time, the sanctions are also being placed on private entities who are “facilitating the integration of Crimea” through their financial investments, as well as persons complicit in …

  • Media: Chinese banks refuse to serve Russians because of sanctions risk

    Russians are facing difficulties working with Chinese banks because of sanctions risks, the newspaper Kommersant reported, referring to the record of the meeting of the Sub-Commission on Cooperation in Financial Fields between Russia and China where this problem was discussed.

    According to the newspaper, the meeting took place on September 27 to 28 in Shenzhen. The parties discussed “barriers that prevent making interbank payments and opening correspondent accounts.” Moscow persistently raised …