Joining the Treasury in 2004, Szubin served in the Bush administration, as the Senior Advisor to the Under-Sec for Terrorism and Financial Intelligence. From 2006 to 2015 (three years in the Bush administration and a further six in the Obama administration), Szubin served as the Director of Treasury’s Office of Foreign Assets Control (OFAC). On Apr 16 2015, Obama nominated him as Under-Sec for Terrorism and Financial Crimes. In 2016, the Senate Banking Committee approved his nomination, but the full Senate never confirmed him, despite which Trump asked him to stay on in his post as Under-Sec. He became the Acting Treasury Sec after the resignation of Treasury Sec Jack Lew and Deputy Treasury Sec Sarah Bloom Raskin on Jan 20 2017. After the expected confirmation of Steven Mnuchin as Treasury Sec, Szubin will leave government service to pursue other endeavors. (Wikipedia)
Sanctioned Russian Bank Confirms It Met With Trump’s Son-In-Law
Tyler Durden, Zero Hedge, Mar 27 2017
In what is emerging as the latest headache for Donald Trump, a state-run Russian bank which has been under economic sanctions since 2014 disclosed on Monday that its executives had met Jared Kushner, Trump’s son-in-law and key policy adviser, during the 2016 election campaign. As reported previously, Kushner has been asked to discuss the contact, and a meeting during the same period with the Russian ambassador, with a Senate committee probing Russia’s alleged interference in the 2016 election. Executives of Russian state development bank Vnesheconombank (VEB) had talks with Kushner during a bank roadshow in 2016 when it was preparing a new strategy, the bank said as reported by Reuters. VEB said in an emailed statement:
As part of the preparation of the new strategy, executives of Vnesheconombank met with representatives of leading financial institutes in Europe, Asia and America multiple times during 2016. (Roadshow meetings took place) with a number of representatives of the largest banks and business establishments of Pindostan, including Jared Kushner, the head of Kushner Companies.
VEB declined to say where the meetings took place or the dates. Pindo boxtops said that after meeting with Ambassador Kislyak at Trump Tower last December, a meeting also attended by Flynn, Kushner met later in December with Sergei Gorkov, the CEO of Vnesheconombank. White House spox Hope Hicks confirmed the meetings. That said, simply meeting with representatives of a sanctioned entity is not a violation of sanctions or against the law, although we doubt the media will focus on that nuance. A bigger circumstantial problem may be that Evgenii Buryakov, 41, a Russian citizen who worked at Vnesheconombank, was accused by Pindo authorities of participating in a New York spy ring while posing as a banker, and pleaded guilty to a criminal conspiracy charge on Friday. Buryakov admitted in federal court in Manhattan to acting as an agent for the Russian government without notifying Pindo authorities. He was sentenced to 30 months in a Pindo prison. Additionally, Gorkov, the bank’s chairman, graduated in 1994 from the Academy of the FSB. He later worked for Yukos and Sberbank before taking the top job at VEB. As the WSJ reminds us, the plunge in oil prices and Western sanctions over the Ukraine crisis have pushed the bank into financial trouble, forcing the Russian government to undertake a bailout. Earlier on Monday, White House spox Sean Spicer told reporters that Kushner is willing to testify to the Senate Intelligence Committee. The Rethug and Demagog leaders of the Senate panel also said Kushner had agreed to be interviewed. Spicer told reporters at his daily briefing:
Throughout the campaign and the transition, Jared served as the official primary point of contact with foreign governments and officials … and so, given this role, he volunteered to speak with Chairman Burr’s committee, but has not received any confirmation regarding a time for a meeting.