The Need to Take Action to Ensure That Assets of National Banks in Cis Countries Are Not Used to Benefit Terrorist Organizationsby Representative Sheila Jackson Lee
Posted on 2016-01-05
in the house of representatives
Tuesday, January 5, 2016
Ms. JACKSON LEE. Mr. Speaker, I rise today to inform the House of an
ongoing problem in the former CIS countries involving the banking
industry that requires the attention of the Congress and the
In the aftermath of 9/11 the United States took decisive action to implement stronger financial controls to disrupt, impede, and prevent the flow of funds to terrorists around the world.
But recent events indicate the need for sustained vigilance and additional action.
One example of this involves the countries of Moldova and Latvia, two members of the Commonwealth of Independent States (CIS) formed in 1991 upon the dissolution of the former Soviet Union in 1991.
In Moldova more than $1 billion was stolen from the Moldovan national treasury and a large portion of that money appears to have ended up in three EU banks in Latvia: ``ABLV, Latvijas Pasta Banka, and Privatbank.'' Mr. Speaker, these banks appear to be financial institutions controlled by associates and friends of Russian President Vladimir Putin who have a demonstrated history of plundering the national treasuries of the former CIS countries.
I call upon the Administration and the Congress to investigate whether assets of the national banks of countries of the former Soviet Union are not being plundered and used, knowingly or unknowingly, to benefit terrorist organizations.