U.S. Targets Russian bank with Syria sanctions authorities

Ben Davis and Howard Mendelsohn
Published by The Camstoll Group, May 13, 2014

On May 8, the US government designated Moscow-based Tempbank and its chairman Mikhail Gagloev for providing support to the Syrian government. Tempbank is the first designation of a Russian entity for activities related to Syria — suggesting a widening of options the US and other governments may be willing to use in policy disputes with Russia. The Russian government openly backs the Assad government and provides significant financial, military, and commercial support.

The Tempbank designation raises the risk profile...