July 14, 2020, 18:49

Treasury: US Targets Russian Bank in Venezuela Sanctions for Alleged PDVSA Links

Treasury: US Targets Russian Bank in Venezuela Sanctions for Alleged PDVSA Links

WASHINGTON (Sputnik) – The United States has targeted the Russian bank Evrofinance Mosnarbank in its latest round of Venezuela-related sanctions, the US Department of the Treasury said in a press release.

“The following entity has been added to OFAC’s SDN [Office of Foreign Assets Control Specially Designated Nationals] List: EVROFINANCE MOSNARBANK”, the release said.

The bank is linked to Venezuela’s oil company PDVSA, the release added.

A separate Treasury Department release said that all Evrofinance Mosnarbank property, as well as any entities in the United States or in possession or control of US persons in which the bank has more than 50 percent ownership, are blocked and must be reported to the OFAC.

US Treasury Secretary Steven Mnuchin said in the release that the move demonstrates that the United States will take action against foreign financial institutions that sustain what he termed was the illegitimate government of President Nicolas Maduro.

READ MORE: US Extends Wind-Down Period for Doing Business With Venezuela’s PDVSA — Treasury

Venezuela entered a tumultuous political crisis in January after opposition leader Juan Guaido proclaimed himself to be the country’s interim president.

The United States immediately recognised Guaido, after which some 50 other countries followed suit. Russia, China, Turkey, Bolivia and a number of other states have said they consider Maduro’s government to be the only legitimate authority in Venezuela.

Maduro, who was sworn in for his second presidential term on 10 January after winning the May 2018 election, has called Guaido a puppet of the United States and said that Washington attempted to stage a coup in Venezuela.

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