An internal investigation into allegations of money laundering against Stockholm-based Swedbank revealed that the bank's Baltic branch did not violate US sanctions against Russia when processing money transfers made by the Kalashnikov Concern to the United States, the bank said in a press release on Wednesday
STOCKHOLM (Pakistan Point News / Sputnik - 21st November, 2019) An internal investigation into allegations of money laundering against Stockholm-based Swedbank revealed that the bank's Baltic branch did not violate US sanctions against Russia when processing money transfers made by the Kalashnikov Concern to the United States, the bank said in a press release on Wednesday.Earlier on Wednesday, Sweden's SVT broadcaster announced the results of a new journalistic investigation into Swedbank. It said that Kalashnikov made money transfers to Florida-based company Kalashnikov USA via Swedbank's Baltic branch. The transfers were supposedly made after the United States imposed sanctions on Russia in 2014 � the measures included an export ban against Kaslishnikov.
"The Bank is not aware of any OFAC [US Treasury's Office of Foreign Assets Control] violations arising out of the continuing internal investigation," the bank said in a press release.
Kalashnikov USA is a subsidiary of the RWC Group. In January 2014, the Kalashnikov Concern signed an exclusive agreement with the RWC Group to supply its products to the United States market. The agreement projected annual sales of up to 200,000 items to the United States as well as to Canada.
Kalashnikov USA's senior officials have repeatedly said that the company has cut all ties with Russia and produces armaments of its own design.
