An obscure Moscow-based state-run bank has emerged as a key
player in Venezuelan President Nicolas Maduro’s efforts to work around U.S.
sanctions that are cutting his country off from the global economy. Evrofinance
Mosnarbank, which is jointly owned by Russia and Venezuela but not subject to
sanctions itself, has been tapped by the Maduro government as an alternative to
handle payments to its suppliers. What’s more, officials in Caracas are urging
local banks and companies to channel international transactions through
Evrofinance, according to people with direct knowledge of the matter. More…
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