"Roscosmos" bypasses international sanctions through "Gazprombank" intelligence

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THURSDAY, MAY 12, 2022, 12:07 PM - OLEKSII PAVLYSH

The Main Intelligence Directorate of the Ministry of Defense of Ukraine states that the Russian state corporation "Roscosmos" is activating payments through "Gazprombank" - to date this Russian State Bank has suffered little from international sanctions.

This is stated in the message of the Defence Intelligence of the Ministry of Defence of Ukraine

"To date, this Russian state-owned bank has suffered little from international sanctions. Certain restrictions on it were announced only on May 8, but they will apply personally to the heads of the institution. It can be expected therefore, that "Roscosmos" and other Russian monopolists will increase the volume of international payments using their "immunity," - the intelligence service says.

According to the Defence Intelligence of the Ministry of Defence of Ukraine, in order to reduce the impact of international sanctions, "Roscosmos" sent out a document to lower-level parts of the organisation "on arranging payments under sanctions". This provides for the following measures:

  •     Restriction of payments made in foreign currency and transfer of payments under concluded contracts to rubles;

  •     Minimising the volume of foreign currency on the accounts of sanctioned banks;

  •     Opening accounts in subsidiaries of foreign banks or Russian institutions that are not subject to sanctions;

  •     Development of instructions on the procedure for investing free funds of "Roscosmos" Corporation.