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Correspondent banking channels have been exploited to skirt U.S. sanctions

Reported · Written up by our desk · Trade & Tariffs

The New York Times Business says the correspondent banking system has helped enable sanctions evasion by providing pathways that can be used to work around U.S. restrictions.

The outlet reports that the system, which grew alongside global banking connections, has been exploited by companies seeking to skirt U.S. sanctions.

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