Tag: financial transparency
1 article
US Treasury Targets Russian Sanctions-Evasion Network A7
The US Treasury has cracked down on a massive Russian sanctions-evasion network, A7, that's been cleverly concealing transactions worth over $6.9 billion by using a simple yet effective technique: paying suppliers through overseas front companies in countries like Hong Kong and Turkey, while keeping the Russian buyer hidden. By invoicing goods like night-vision scopes as "toughened glass", A7 has been able to evade detection and continue doing business with Russian importers.