U.S., UK to deepen cooperation on Russia, other sanctions

The United States and Britain will further their cooperation on sanctions against Russia as well as on other targets, top financial officials for the two allied nations said in a joint statement.

“We will identify opportunities to pool expertise, to think creatively about the challenges we face, to explore opportunities to align the way we implement sanctions, and to assist our stakeholders either through joint products or by providing guidance resulting from collaboration behind the scenes,” wrote Andrea Gacki, director of the US Treasury’s Office of Foreign Assets Control, and Giles Thomson, director of the Office of Financial Sanctions Implementation at the UK Treasury.

“Over time, we expect to realise the benefits of our collaboration not only in relation to the sanctions, but also across other common sanctions regimes . . . our common values and combined role in the global financial system make our partnership incredibly potent,” they added.