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The US Will Unleash The IRS On Russian Banks In July

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AP
May 6, 2014

WASHINGTON (AP) — As the United States attempts to punish Russia for its actions in Ukraine, the Treasury Department is deploying an economic weapon that could prove more costly than sanctions: the Internal Revenue Service.

This summer, the U.S. plans to start using a new law that will make it more expensive for Russian banks to do business in America.

“It’s a huge deal,” says Mark E. Matthews, a former IRS deputy commissioner. “It would throw enormous uncertainty into the Russian banking community.”

Full story here.

This article was posted: Tuesday, May 6, 2014 at 3:53 am





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