Leaked Records Show Chinese Bank Financed Sanctioned Oligarchs’ Firms

Leaked banking records reviewed by journalists show a major Chinese state-owned bank continued financing companies linked to individuals under Western sanctions, according to the investigation. The records reportedly detail credit lines and transactions routed through subsidiaries and intermediary firms that obscured the ultimate beneficiaries.

The findings raise questions about how effectively international sanctions regimes can restrict access to capital when large state-backed lenders continue doing business with sanctioned networks through indirect channels. Banking compliance experts say the case illustrates a persistent gap between the sanctions lists governments publish and the financial plumbing that still connects sanctioned individuals to global markets.