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Sanctions STRs Skyrocket Across Europe

By Gabriel Vedrenne

Cryptocurrency payments, massive withdrawals of cash, dual-use exports and last-minute transfers of ownership flourished like never before in Europe in 2022, suspicious transaction reports, or STRs, and other publicly available records of financial intelligence show. Larger volumes of sanctions-related STRs in Europe have been in the cards since the beginning of the full-scale invasion of Ukraine, which prompted the West to impose an unprecedented economic blockade on the perpetrator, Russia, by targeting the country's oil revenue, severing its links to the global banking system, and blacklisting hundreds of officials, oligarchs and businesses tied to the Kremlin. But the true scale...

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