The Treasury Department’s Office of Foreign Assets Control announced sanctions on nearly 300 Russian individuals and entities, including the operator of the Mir National Payment System.
Treasury sanctions Russia’s national payment system
February 26, 2024 / By ICBA
The Treasury Department’s Office of Foreign Assets Control announced sanctions on nearly 300 Russian individuals and entities, including the operator of the Mir National Payment System.
The Treasury Department’s Office of Foreign Assets Control announced sanctions on nearly 300 Russian individuals and entities, including the operator of the Mir National Payment System.
Mir Sanctions: The OFAC sanctions extend to the National Payment Card System Joint Stock Company, the Mir operator owned by the Central Bank of Russia. Treasury said the Mir system has enabled Russian efforts to evade sanctions and reconstitute severed connections to the international financial system.
More: OFAC also designated nine regional financial institutions, five investment and venture capital funds, and six fintech companies that support Russian financial institutions. Combined with State Department sanctions targeting government and energy industry officials, the sanctions package targets more than 500 individuals and entities.
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