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Swedbank May Have Breached US Sanctions Against russia

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Swedbank AB may have violated U.S. sanctions against russia by facilitating the transfer of $1 million from gun maker Kalashnikov to a U.S. subsidiary in Florida, according to a report by Swedish state broadcaster SVT, the WSJ reports.

After russia annexed Crimea in 2014, the U.S. imposed sanctions against companies with ties to the war in Ukraine. One of the companies was russian weapons manufacturer Kalashnikov.

However, production rights were transferred to Kalashnikov USA, an independent company in Florida that is not subject to sanctions, according to the investigative show Uppdrag Granskning.

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