JOINT READOUT: US- EU - UK Sanctions Evasion Meeting with Private Sector Participants

WASHINGTON – On the sidelines of the World Bank Group and International Monetary Fund Spring Meetings, Deputy Secretary of the Treasury Wally Adeyemo; European Commissioner for Financial Stability, Financial Services, and Capital Markets Union Mairead McGuinness; and HM Treasury Director General for International Finance Lindsey Whyte hosted representatives from financial institutions to discuss continued efforts to counter sanctions evasion and combat Russian military procurement in key jurisdictions. The government officials and bank representatives were also joined by Deputy Director of the CIA David Cohen and Deputy Director of National Intelligence Morgan Muir.

The officials shared information about the most critical goods sought by the Russian military and emphasized that the Kremlin has directed its intelligence services to find ways around sanctions in order to replenish badly depleted supplies. They also discussed trade trends and enforcement priorities.