U.S. Treasury monitoring any moves to circumvent Russian sanctions through use of gold-Yellen -Breaking
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© Reuters. FILE PHOTO – An employee makes ingots of pure 99.99% gold at Krastsvetmet, a non-ferrous metals facility in Krasnoyarsk (Russia), March 10, 2022. REUTERS/Alexander Manzyuk
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© Reuters. FILE PHOTO – An employee makes ingots of pure 99.99% gold at Krastsvetmet, a non-ferrous metals facility in Krasnoyarsk (Russia), March 10, 2022. REUTERS/Alexander Manzyuk2/2
WASHINGTON, (Reuters) – The U.S. Treasury Department made it clear that Russia-related gold transactions may be sanctioned and closely monitors any attempts to bypass U.S. sanctions by using gold, Treasury Secretary Janet Yellen stated on Tuesday.
“This matter is important,” Yellen stated to a Senate Finance Committee hearing regarding the Treasury’s budget. We’re monitoring all efforts to bypass Russia-related sanctions by using gold.
According to President Joe Biden’s executive order, such transactions might be sanctionable for Russia’s invasion in Ukraine.
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