On Sunday, the United States said that it had exchanged intelligence with European bankers, government representatives, and business executives in order to crack down on Russia’s attempts to circumvent Western sanctions.

In order to encourage more effective enforcement of the sanctions put in place as a result of Russia’s invasion of Ukraine, Brian Nelson, Treasury undersecretary for terrorism and financial intelligence, attended briefings last week in Switzerland, Austria, Germany, and Italy, according to a statement from the Treasury.

According to the Treasury, Nelson provided information on some of the most important military commodities that Russia is attempting to purchase, such as optical devices, electronics, and manufacturing equipment.

He cautioned allies to be on the lookout for “red flags” such huge cash payments, routing payments through nations that were not party to the transaction, and numerous tenders or shipments of the same goods from various suppliers for the same end customer. Other red flags, according to the government, include rerouting commodities to nations with few or no limitations on re-exports to Russia or frequent or hurried changes of end-users or payees.

The Treasury Department said that Elizabeth Rosenberg, assistant secretary for terrorist financing and financial crimes, will visit Kazakhstan and Uzbekistan in the upcoming week in order to bolster efforts to fight money laundering and the financing of terrorists and the enforcement of sanctions.

(Adapted from MarketScreener.com)

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