The United States fined a New York company $7 million for violating sanctions against the Russian Federation

The US Treasury Department fined a New York company more than $7.1 million for violating sanctions against the company of Russian oligarch Oleg Deripaska.

Source: “European truth” with reference to the official announcement of the department

Details: The US Treasury Department imposed a fine of more than $7.1 million on the New York company Gracetown Inc. by the Office of Foreign Assets Control (hereinafter – OFAC). for violation of sanctions related to the Russian Federation.

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“Treasury will take a strong stand against those who ignore our sanctions and assist our adversaries. Under Secretary Bessent’s leadership, we will continue to investigate and prosecute those who assist sanctioned individuals,” said Treasury Undersecretary for Counterterrorism and Financial Intelligence John C. Gurley.

As noted, from April 2018 to May 2020, Gracetown received 24 payments totaling more than $31,000 on behalf of a company whose ultimate owner is Deripaska.

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