US Warns Companies Against Doing Business With Sanctions Evaders
- Notice warns companies to boost compliance to avoid violations
- Administration singles out several transshipment points
St Basil's Cathedral near Red Square in Moscow.
Source: Bloomberg
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The US warned companies to be on guard for transactions that could help Russia evade western sanctions, especially if they’re linked to China, Turkey and a handful of other nations, as officials look to step up sanctions enforcement a year into the invasion of Ukraine.
An advisory from the departments of Commerce, Justice and Treasury said companies should be on the lookout for “transshipment points” where goods are legally purchased and then sent on to Russia or Belarus. Those locations include China, Hong Kong, Macau and Russia’s close neighbors Armenia, Turkey and Uzbekistan, according to the notice.