The US bank and trust State Street has agreed to pay $7.5 million (640 million rubles) in damages for violating sanctions against Russia in the period 2016-2020, the press service of the US Treasury Department reported on July 27.
According to an official statement from the department, after receiving this compensation, it will not file a civil suit against State Street.
The ministry’s press service explained that the large amount of compensation is explained by the bank’s reluctance to voluntarily admit “evident” violations of sanctions against Russia.
However “State Street has agreed to a pre-trial settlement of potential civil liability for 38 apparent violations of Treasury Office of Foreign Assets Control sanctions.” United States, the department said.
The press service explained that the trust edited or reissued invoices for clients who were subject to anti-Russian sanctions.
Source: Rossa Primavera
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