In May 2005, President George W. Bush travelled to Latvia to discuss Latvian banking irregularities. The Lithuanian branches of Parex were associated with pro-Russia, pro-Kremlin, and pro-Putin Viktor Yanukovych money laundering scandals in the 2004 Ukrainian elections according to the Lithuanian newspaper "Respublika". The United States branch of Deutsche Bank had a correspondent account with Parex, but shut it down after pressure from the United States Treasury Department.