Deutsche Bank Settles Two OFAC Cases Totaling $583K for Violations of Ukraine-Russia Sanctions

Deutsche Bank has settled two separate matters with the Office of Foreign Assets Control – one involving the processing of a large transaction connected to IPP Oil Products (Cyprus) Ltd, a Specially Designated National; and another for 61 transactions involving Open Joint Stock Company Krasnodar Regional investment Bank, aka Krayinvestbank, a Specially Designated National under the Ukraine-Russia sanctions program.