The Bank for International Settlements (BIS), the Swiss-based global financial umbrella body dubbed the “bank for central banks,” has said it won’t be an avenue for any circumvention of Western sanctions placed on Russia for invading Ukraine. The BIS, which is owned by the world’s central banks and is headquartered in Basel, Switzerland, can conduct currency and reserves transactions for its members. But a spokesperson has made clear that the BIS will not carry out transactions that will allow Russia’s central bank to get around sanctions. “The BIS will not be an avenue for sanctions to be circumvented,” spokeswoman Jill Forde said during a conference call with journalists that came in context of the BIS’ first major report of the year. “The BIS will follow sanctions as applicable.” Forde’s remarks come in context of tough measures Western allies have imposed on Russia, including ejecting some Russian banks from the SWIFT …