{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA/RUSSIA: MONEY LAUNDERING ALLEGATION LATEST' data-url='/boclips/videos/5c54c57cd8eafeecae1708e1' data-video-url='/boclips/videos/5c54c57cd8eafeecae1708e1' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA/RUSSIA: MONEY LAUNDERING ALLEGATION LATEST\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEng/Russ/NatThe Clinton administration told Congress on Tuesday that the United States must  continue to support Russia or risk being branded as \"scapegoats\" for Russia's failure.But in the wake of what may be the biggest...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEng/Russ/Nat\u003cbr/\u003eThe Clinton administration told Congress on Tuesday that the United States must  continue to support Russia or risk being branded as \"scapegoats\" for Russia's failure.\u003cbr/\u003eBut in the wake of what may be the biggest money-laundering scheme in U-S history,  Treasury Secretary Lawrence Summers said the administration will propose to  strengthen laws and make it tougher for foreigners to clean ill-gotten gains through  American banks.\u003cbr/\u003eBut in Moscow, Russian Finance Minister Mikhail Kasyanov told reporters there has  been no misuse of I-M-F funds.\u003cbr/\u003eU-S Treasury Secretary Summers was the lead off witness as Congress opened the  first of a series of inquiries into allegations that Russian gangsters illegally channeled  billions of dollars through the Bank of New York.\u003cbr/\u003eThe administration backs continued support for Russia in spite of these allegations  because it says to write off Russia as too corrupt would not serve U-S national interest.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"Our support for official financing for Russia has been grounded in the recognition that  we cannot want successful market reform in Russia more than Russia's government  and its people do.\"\u003cbr/\u003eSUPER CAPTION: Lawrence Summers, U.S. Treasury Secretary\u003cbr/\u003eSummers stressed to the House Banking Committee that the administration must  weigh the need to remain engaged with Russia, with its huge arsenal of nuclear  weapons, while demanding reforms.\u003cbr/\u003eHe added that other countries around the world were also concerned about the state of  Russia's finances.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"Going forward, we in the G-7 will be calling for authoritative reviews by the IMF and  World Bank to identify ways more generally around the world to strengthen safeguards  on the use of IMF and World Bank funds, especially in cases where there is a  heightened risk of diversion or misappropriation.\"\u003cbr/\u003eSUPER CAPTION: Lawrence Summers, U.S. Treasury Secretary\u003cbr/\u003eSummers says the International Monetary Fund, at U-S urging, has already acted to  make sure the billions in loans provided by the West are used for legitimate purposes.\u003cbr/\u003eThe Clinton administration on Thursday will release a number of proposals to bolster  international cooperation in investigating money laundering and strengthen U-S  enforcement through tighter regulation of financial institutions.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"We are insisting on absolute safeguards with respect to our own money, namely, not  the United States own money,the IMF's money which is in part our own money in the  insistence that that money not get to Russia - that it move from one IMF account to  another account and thats all the money thats provided.\u003cbr/\u003eQ: What do you mean from one IMF account to another, for what purpose?\u003cbr/\u003eA: For the purpose of repaying, for the purpose of repaying the IMF.\u003cbr/\u003eQ: So we are giving loans to finance pre-existing debt?\u003cbr/\u003eA: We are, in effect, extending portion of the debt that is coming due to Russia, coming  due from Russia to the IMF, the remainder will be paid back directly from Russia.\" \u003cbr/\u003eSUPER CAPTION: Lawrence Summers, U.S. Treasury Secretary\u003cbr/\u003eU.S. investigators have not commented publicly on the case, in which as much as 10  (b)\u003cbr/\u003ebillion U-S dollars allegedly was funnelled through the Bank of New York, the 15th- largest U-S bank.\u003cbr/\u003eAlso in Washington, World Bank President James Wolfensohn said the bank is in the  midst of audits with full cooperation from Russia, but has not be able to find any misuse  of its funds in Russia so far.\u003cbr/\u003eThe bank investigated its 34 projects in Russia.\u003cbr/\u003eWolfensohn remained optimistic that conditions were changing inside Russia.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"I don't expect that we will wipe away corruption overnight nor do I think that a  statement by me is going to do it.  What is going to do it is sentiment inside the  countries to try and bring about an end to corruption, a more equitable life and I think  that there is a lot of evidence that that is happening.\"\u003cbr/\u003eSUPER CAPTION: James Wolfensohn, World Bank President\u003cbr/\u003eRussia now owes some 16 billion (b) U-S dollars of the 22 billion (b) U-S dollars that the  182-nation IMF has lent it since 1992. \u003cbr/\u003eThe I-M-F board is expected soon to consider approving a second, 640 million (m) U-S  dollars installment under a 4.5 billion (b) U-S dollars loan package for Russia that was  previously authorized.\u003cbr/\u003eMeanwhile in Russia, the Finance Ministry has announced it will make all its payments  of debts on time, despite recent scandals surrounding its actions.\u003cbr/\u003eFinance Minister Mikhail Kasyanov said on Tuesday Russia will pay its debts, whether  or not the second tranche of the I-M-F loan is delayed.\u003cbr/\u003eSOUNDBITE: (Russian)\u003cbr/\u003e\"Despite the possible instability or the absence of sources that we have counted on we  will get the necessary means to fulfill our planned payments,  for all our debts, both  domestic and from abroad.\"\u003cbr/\u003eSUPER CAPTION: Mikhail Kasyanov, Russian Finance Minister\u003cbr/\u003eHe also said his ministry had evidence no money from the I-M-F was misused.\u003cbr/\u003eSOUNDBITE: (Russian)\u003cbr/\u003e\"I am not sure how the talks in Washington will reflect on us, that is why we are going,  but all the information we have states there has been no misuse of the money from the  International Monetary Fund. This fact, we have stated it more than once. And we are  ready to provide all the information proving this. We have already given it. You know the  I-M-F itself has already twice stated that there are no facts pointing to misuse of the  funds.\"\u003cbr/\u003eSUPER CAPTION: Mikhail Kasyanov, Russian Finance Minister\u003cbr/\u003eKasyanov conceded, however, the instability was causing some political problems for  the ministry.\u003cbr/\u003eWashington, DC, U-S-A  and Moscow, Russia - September 21, 1999     XFA\u003cbr/\u003e(Pool) - Washington, DC\u003cbr/\u003e1. Mid view hearing being opened\u003cbr/\u003e2. Wide view of hearing\u003cbr/\u003e3. SOUNDBITE: (English) Lawrence Summers, U.S. Treasury Secretary\u003cbr/\u003e4. Back view of hearing\u003cbr/\u003e5. SOUNDBITE: (English) Lawrence Summers, U.S. Treasury Secretary\u003cbr/\u003e6. Side view of hearing\u003cbr/\u003e7. Cutaway Committee Chairman, Jim Leach (Republican, Iowa)\u003cbr/\u003e8. SOUNDBITE: (English) Lawrence Summers, U.S. Treasury Secretary\u003cbr/\u003e9. Wide view of hearing\u003cbr/\u003e(APTN) - Washington, DC\u003cbr/\u003e10. Mid view of James Wolfensohn, World Bank President \u003cbr/\u003e11. Cutaway reporters\u003cbr/\u003e12. SOUNDBITE: (English) James Wolfensohn, World Bank President\u003cbr/\u003e(APTN) - Moscow\u003cbr/\u003e13. Russian Finance Minister Mikhail Kasyanov enters press conference\u003cbr/\u003e14. Wide shot presser\u003cbr/\u003e15. SOUNDBITE: (Russian)  Mikhail Kasyanov, Russian Finance Minister\u003cbr/\u003e16. Cutaway\u003cbr/\u003e17. SOUNDBITE: (Russian)  Mikhail Kasyanov, Russian Finance Minister\u003cbr/\u003e18. Cutaway media\u003cbr/\u003e19. Kasyanov leaving presser\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci 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id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003enorth america, evidence, business, crime, russia, money, iowa, corruption, europe, eastern europe\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' 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