U.S. sanctions Ilan Șor for aiding Russian sanctions evasion
Ilan Șor, sentenced to 15 years in prison for his role in the "Banking Fraud" case in the Republic of Moldova, has been accused by the United States of participating in a scheme to evade U.S. sanctions involving the Russian bank Promsvyazbank (PSB) and Kyrgyzstan's Keremet Bank.
According to the U.S. Department of the Treasury, Keremet Bank was involved in a sanctions-evasion scheme in 2024, working with Promsvyazbank (PSB), a Russian bank that has been under U.S. sanctions since February 2022. PSB, nationalized by the Russian government in 2018, finances Russia’s defense industry and supports military-industrial companies. Keremet Bank facilitated cross-border transfers on behalf of PSB to circumvent international sanctions.
Oligarch Ilan Șor played a role in these activities. In 2024, Kyrgyzstan’s Ministry of Finance sold a majority stake in Keremet Bank to a company linked to a Russian oligarch with ties to the Russian government. The acquisition aimed to turn the bank into a hub for sanctions evasion, facilitating financial transactions tied to Russian imports and exports.
Notably, Keremet Bank was added to the U.S. sanctions list on Wednesday. The list includes more than 150 individuals and entities accused by Washington of contributing to Russia’s war against Ukraine, with significant involvement from China.
“These sanctions will further limit Russia’s ability to wage this war and bypass the sanctions already imposed by the U.S.,” the Department of State said in a statement.
The sanctions target over 150 individuals and entities suspected of serving the Russian military-industrial complex, including dozens of companies based outside Russia that help Moscow evade U.S. sanctions, particularly from China, according to the Department of State.
In October 2022, the U.S. Department of the Treasury announced sanctions under the Magnitsky Act against two Moldovan oligarchs, Vladimir Plahotniuc and Ilan Șor, along with several entities and individuals associated with them, for actions tied to systemic corruption and election interference in favor of the Russian Federation. Those sanctioned were banned from entering U.S. territory and conducting transactions on their accounts or on behalf of other Moldovan citizens.
A year later, Washington introduced new sanctions against Deputy Marina Tauber, citing her involvement in undermining electoral processes in Moldova for the Kremlin’s benefit through the illegal purchase of votes.
In 2024, the U.S. imposed sanctions on Evghenia Guțul, governor of the Autonomous Territorial Unit of Gagauzia, for complicity with the fugitive convicted oligarch Ilan Șor and his former political party. These sanctions were also imposed for facilitating their politically motivated illegal actions, supported by the Kremlin. The measures include freezing all properties in the United States or under the control of U.S. persons, prohibiting transactions with U.S. individuals or within U.S. territory, banning the transfer or receipt of funds, goods, or services, and rendering Evghenia Guțul ineligible to enter the United States.
Translation by Iurie Tataru
