Western sanctions have largely isolated Russia from the international financial system. But now officials say they want to see money flowing into parts of Russia’s economy, and financial firms to enable this
Save time by listening to our audio articles as you multitaskBut recently Western officials have emphasised they want to see money flowing into parts of Russia’s economy, and financial firms to enable this. On November 14th America, Britain and theissued a statement making clear that sanctions target Russia’s war machine, not its food or fertiliser industries. Diplomats have reiterated the message in the days since, seeking to ensure sanctions do not work too well.
The renewal of a grain deal between Russia and Ukraine, which allows food out of Ukrainian ports, explains the recent push. To get Moscow to sign, officials sought to show they were not blocking Russia’s food and fertiliser The problem is that politicians and campaigners have not got the message. In September members of Congress excoriated the bosses of JPMorgan Chase and Citibank, two American banks, for doing business with Russian oil and gas firms, despite guidance from the Treasury permitting it. As Juan Zarate, the architect of America’s sanctions after the September 11th attacks, notes: “Corporate concerns regarding transparency, accountability and integrity have increased exponentially.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Strong earthquake rocks western Turkey near DuzceAt least 35 people were injured in the magnitude 6.0 quake, which woke people in Istanbul and Ankara.
Read more »
Gary Lineker: BBC should have spoken up about Russia at 2018 World CupThe former football star is currently presenting the broadcaster's World Cup coverage from Qatar.
Read more »
Ukraine war: Why is Crimea so important to Russia and can Zelenskyy's troops recapture it?Russian politicians have been discussing the possibility of an attack on the critically important peninsula that was illegally annexed in 2014.
Read more »
Lineker: BBC should have spoken up on Russia 2018BBC should have spoken up about human rights issues during 2018 World Cup in Russia, says Gary Lineker
Read more »
European gas prices rise after Russia threatens to curtail supplies\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »