Reported by: James Politi

The US and UK have agreed to bolster their co-operation in implementing and enforcing financial sanctions as they try to make it harder for Russia and other countries to elude economic punishment imposed by the west.

In a joint announcement due to be published on Monday and obtained by the Financial Times, top officials at the US and UK Treasury said they had decided to take their collaboration to a “new level”.

The announcement comes as Washington and London, along with other western allies, are considering new ways to punish Russia for its latest military escalation against Ukraine, but also signalled their intention to impose financial restrictions on entities in third countries assisting Moscow in the war.

Meanwhile, the US Treasury is planning to create a new role of chief sanctions economist to examine the economic effect of sanctions, while OFSI is expanding into a larger organisation.

Read full report: https://www.ft.com/content/928e0050-9737-4a28-816f-b2f039c2cee5