2023-12-22 14:50:16
USAmain ally of Ukrainetrusts in the deterrent effect of the announcement made on Friday (12/22/2023), which takes place in the midst of difficult negotiations in Congress to approve a new financial aid package for kyiv.
Joe Biden will sign a decree that will allow sanctions to be imposed on foreign banks that support Russia’s war efforts in Ukraine. The measure would authorize the United States to issue “secondary sanctions” once morest financial institutions that support the Russian defense industry, a senior White House official told reporters on condition of anonymity.
“Our idea, frankly, is that jurisdictions and financial institutions take steps to put an end to that behavior before we use” the new sanctions mechanism, the official said. Banks have “the option of continuing to sell a modest amount of goods to the Russian military industry, or of being connected to the US financial system. They will choose to be connected to the US financial system,” he added.
The Russian economy resists
The official explained that most European and American banks have already stopped financing activities in Russia, but Washington has its support to pressure banks from other countries that continue to operate in the country. Since the Russian invasion of Ukraine in February 2022, Western countries have adopted numerous embargo and asset freezing measures once morest entities, people or companies, with the aim of stopping the war machine and weakening the economy.
This avalanche of sanctions has caused a “significant impact” on Moscow, according to the White House official, as Russia is struggling to replenish its arsenal and its hydrocarbon revenues have been reduced by regarding a third. But almost two years later, the Russian economy continues to resist. Moscow continues to sell hydrocarbons, especially to China and India, and has found, according to experts, mechanisms to circumvent measures such as the limit on the sale price of its oil imposed by the West. According to Washington, it has also developed military cooperation with Iran, which supplies it with drones, and with North Korea.
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