Wednesday, 2 June 2021 (YJC) _ The U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned three Bulgarian individuals as well as their networks encompassing 64 entities.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned three Bulgarian individuals for their extensive roles in corruption in Bulgaria, as well as their networks encompassing 64 entities. The Administration believes corruption degrades the rule of law, weakens economies and economic growth, undermines democratic institutions, perpetuates conflict, and deprives innocent civilians of fundamental human rights, and today’s action — the single largest action targeting corruption to date — demonstrates the Department of the Treasury’s ongoing effort to hold accountable those involved in corruption. The U.S. government will continue to impose tangible and significant consequences on those who engage in corruption and work to protect the global financial system from abuse.
“The United States stands with all Bulgarians who strive to root out corruption by promoting accountability for corrupt officials who undermine the economic functions and democratic institutions of Bulgaria,” said Office of Foreign Assets Control Director Andrea M. Gacki. “Not only does corruption deprive citizens of resources, it can erode the institutions intended to protect them. This designation under the Global Magnitsky sanctions program shows that we are committed to combatting corruption wherever it may be.”
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