The US State Department announced the imposition of sanctions on the Russian company GOZNAK, due to its role in counterfeiting the Libyan currency.
According to the US statement, GOZNAK was responsible for printing more than one billion dollars worth of counterfeit Libyan currency, which exacerbated the economic challenges facing Libya.
GOZNAK is a Russian state-owned enterprise responsible for the production of currencies, banknotes, and security products such as passports.
These sanctions come while preparations are ongoing for the G7 meeting in Italy, and are part of a series of measures taken by the US State Department that aim to weaken Russia’s ability to continue its war against Ukraine, as the sanctions included more than 300 actors that support Russia’s activities abroad.
