Russia reportedly sent a whopping $5 billion through banking giants JPMorgan Chase and Citigroup in a scheme to skirt US sanctions. According to a report from the Wall Street Journal citing “people familiar with the matter,” investigators at the Justice Department (DOJ) believe Russia used a state-controlled bank to move billions of dollars through correspondent US banks and ultimately into Turkey – disguising the massive transfers as funding for a nuclear plant. Russia is accused of using unsanctioned entities including Gazprombank, a state lender that allows European countries to import fuel from Russia, in an attempt to establish an offshore dollar fund at Turkey’s state-owned Ziraat Bank. A DOJ investigation found Gazprombank shifted $3 billion through Citibank and $2 billion through JPMorgan. The large payments triggered alarms at the DOJ, prompting authorities to block and freeze the $2 billion Chase transaction. The DOJ filed a civil forfeiture suit last year to seize the frozen $2 billion. But the White House reportedly asked the DOJ to back off amid concerns that the order might antagonize Turkey – a country serving major importance for US interests in the Middle East. The DOJ also says it is not probing JPMorgan or Citi for any wrongdoing in facilitating the billion-dollar transfers. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Russia Sent $5,000,000,000 Through JPMorgan and Citigroup in Alleged Scheme To Evade Sanctions: Report appeared first on The Daily Hodl .
