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Today — 9 October 2026Main stream

How Correspondent Banking Can Enable Sanctions Evasion

✇NYT - Home Page
By: Aaron Krolik
9 October 2026 at 14:29
The correspondent system for banking has enabled globalism — and has been exploited by companies trying to skirt U.S. sanctions.

© Costfoto/NurPhoto, via Getty Images

Zhejiang Chouzhou Commercial Bank, a regional lender in China, has large presences in Kyrgyzstan, Mongolia, Kazakhstan and Uzbekistan — countries with close economic ties to Russia.

How Correspondent Banking Can Enable Sanctions Evasion

✇NYT - Business
By: Aaron Krolik
9 October 2026 at 14:29
The correspondent system for banking has enabled globalism — and has been exploited by companies trying to skirt U.S. sanctions.

© Costfoto/NurPhoto, via Getty Images

Zhejiang Chouzhou Commercial Bank, a regional lender in China, has large presences in Kyrgyzstan, Mongolia, Kazakhstan and Uzbekistan — countries with close economic ties to Russia.
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