Finance firms ask US government for help navigating sanctions gamut
Avoiding US penalties for violations has grown more challenging for banks as the government’s dependence on sanctions has surged
06 May 2021 - 18:01
Washington — Wall Street firms have urged the Biden administration to ease the industry’s burden in complying with a flood of financial sanctions the US has levied in recent years as a primary tool of foreign policy towards Russia, China, Iran and other adversaries.
Financial services industry groups have asked for more transparency and flexibility to target big-money evasion of the restrictions, as the treasury department undertakes an exhaustive review of its sprawling sanctions programmes, led by deputy secretary Wally Adeyemo...
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