The Central Bank of the Bahamas (BCB) has revealed that international financial institutions operating in the archipelago have assets of more than $2,000 million (about 1,800 million euros) with end beneficiaries in or associated with Russia.
In early March, the Bahamas Financial Services Regulators Group directed financial institutions not to do business with persons or entities linked to Russia and Belarus, the central bank said in a statement.
As a result of this action, BCB collected data from banks and financial entities operating in the Atlantic archipelago that maintain links with Russia.
The findings show that entities operating in the Bahamas have assets of more than $2 billion with ultimate beneficiaries in Russia or linked to the country that invaded Ukraine on February 24, leading to unprecedented economic sanctions.
The European Central Bank further disclosed that it is investigating domestic financial institutions to determine what level of exposure they have to Russian companies or individuals.
In early March, the Bahamian government warned local entities to exercise caution when doing business with any entity that is Russian or associated with Russia.
The Government of the Bahamas stated that international sanctions imposed on Russia due to the invasion of Ukraine are taken into account and that the development of the situation is being closely monitored.
We inform all entities [financeiras] It is the Bahamas that must handle transactions on our territory with Russian persons and entities that have been sanctioned by the United States, the European Union, Canada and the United Kingdom, according to the statement from the Nassau Executive.
The Bahamian government has also denounced what it considers an “unfortunate” Russian attack on Ukraine.
On February 24, Russia launched a military offensive in Ukraine that caused at least 925 deaths and 1,496 injuries among the civilian population, including more than 170 children, and caused another 10 million, including 3.48 million, to flee. Latest United Nations data.
According to the United Nations, there are about 13 million people in need of humanitarian aid in Ukraine.
The international community in general condemned the Russian invasion, and responded by sending weapons to Ukraine and strengthening economic and political sanctions against Moscow.
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