US Sanctions Russian-Controlled IIB Bank, Executives in Hungary
- US Says IIB expands Moscow’s ability to spy within NATO
- Hungary criticized by allies for keeping close Moscow ties
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The US imposed sanctions on the Russian-controlled International Investment Bank, saying its presence in Budapest allowed Moscow to expand its ability to spy, conduct “malign influence activities,” and engage in corruption from within the European Union and NATO.
The US Treasury Department also designated for sanctions three current or former executives of the bank: Russian nationals Nikolay Kosov, Georgy Potapov and Hungarian Imre Laszloczki for coordinating with Russian officials on IIB business following the Kremlin’s invasion of Ukraine.