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NEWS: Bank of Italy signals potentially illegal transfers from Italian accounts to Russia in 2023

By Sara Rossi

The Bank of Italy reported potentially illegal bank transfers last year from Italian accounts to Russia, channelled through other countries in order to avoid Western sanctions, the central bank said in a document published on Wednesday.

Western powers imposed sweeping sanctions on Moscow after Russia launched a full-scale invasion of Ukraine in February 2022, which have since been gradually tightened.

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