US imposes global Magnitsky sanctions on three Bulgarians, dozens of entities

The United States has imposed sanctions on three Bulgarian individuals and dozens of entities linked to them in an effort to dissuade and disrupt international corruption, the Treasury Department announced on Wednesday.

"Today, the US 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 Treasury Department said.

The three individuals named in the Magnitsky designations include businessman Vassil Bojkov, member of parliament Delyan Peevskiand and former State Agency for Technical Operations Deputy Chief Ilko Zhelyazkov.

OFAC said the designation exposes Bojkov, Peevski, and Zhelyazkov for abusing public institutions for their own gain and blocks them from accessing the US financial system. They also encouraged other governments to implement similar measures to address corruption, it added.

The measures require that all property of the individuals and entities placed on the list be blocked and reported to OFAC, even if in the possession of US citizens. The measures restrict making any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person or the receipt of any contribution or provision of funds, goods, or services from any such person. (ANI/Sputnik)

( With inputs from ANI )

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