Treasury sanctions Russia based bank over attempt to skirt Venezuela sanctions

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Treasury on Monday announced sanctions on Evrofinance Mosnarbank whom the Trump administration no longer recognizes as Venezuelas president. The bank is based in Moscow and is jointly owned by Russian and Venezuelan state owned companies. has escalated sanctions against Maduros regime. The sanctions announced Monday freeze the banks assets that are in the U. and prohibit Americans from dealing with it. Treasury said the sanctions target a foreign financial institution that has assisted Petroleos de Venezuela S. The United States on Monday imposed sanctions on the Russian bank Evrofinance Mosnarbank over its dealings with the Venezuelan state oil firm PDVSA part of U. efforts to cut off a financial lifeline for socialist President Nicolas Maduros government. The Trump administration has taken several measures to undermine Maduros rule and bolster Venezuelan opposition leader Juan Guaido recognized by the United States and more than 50 other countries as interim president. Washington has called on foreign banks to ensure that Maduro and Venezuelan government officials are not hiding financial assets abroad

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