US Treasury OFAC Re-Sanctions Garantex and Targets Successor Grinex
The US Treasury’s OFAC imposed sanctions on Garantex for a second time, extending the measures to its successor Grinex for facilitating illicit transactions.
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Terms & Concepts
OFAC: The Office of Foreign Assets Control, a U.S. Treasury agency that enforces economic and trade sanctions.
Sanctions: Measures imposed by authorities to restrict access to financial markets in response to illicit activities.