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Western Crackdown on Facilitators of Sanctions Evasion Gathers Pace

By Koos Couvée

Wednesday's U.K. and U.S. designations of Cypriot financial advisors, a Hungarian bank and other targets suspected of helping Russians evade sanctions shows that a Western crackdown on "professional enablers" is gathering steam, attorneys told ACAMS moneylaundering.com. U.S. officials blacklisted the "Russia-controlled" International Investment Bank in Budapest and three current and former executives for helping the Kremlin "increase its intelligence presence in Europe," and also targeted Sequoia Treuhand Trust, a corporate services provider in Liechtenstein, for aiding the blacklisted Russian oligarch Gennady Timchenko. Together with Britain, they also designated a global network of companies and associates connected to Alisher Usmanov, including...

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