The embargo package, implemented by the Biden administration, will also bar US financial institutions from processing transactions with major Russian banks. The Reuters website reports quoting three people who know about Dossier. These measures are aimed at undermining the Russian economy by cutting off “correspondent” banking ties between targeted Russian banks and US banks that allow international payments.
Banks are also targeted by the European Union
In Brussels, the ambassadors (EU) of the European Union (EU) gave the first green light to the embargo, which will be finalized by European authorities in the afternoon. The package on the table contains a joint note by European Council Presidents Charles Michael, the European Commission and Ursula von Der Lane, explaining that it contains “instructions and” banks “to target those involved in illegal decision making.” Who finance Russia and other military operations in those areas.
Sanctions on Moscow’s entry into European markets
Measures include “the ability of the Russian government and government to access the EU’s financial and capital markets and services, and to limit the funding of aggressive policies that fuel the increase.” The proposed sanctions would also “affect the trade of the two separated regions with the EU, to ensure that those responsible clearly feel the economic consequences of their illegal and aggressive activities”. Furthermore, in this case, the EU is prepared to “take further action, in light of further developments, if necessary, at a later stage.”
Germany was one of the first countries to respond to Moscow, which had suspended the approval of the Nord Stream 2 gas pipeline. “It seems like a technicality, but it’s a necessary administrative step, so there will be no pipeline certification, and without this certification Nord Stream 2 will not be able to start operations,” the Chancellor said.
Procedures decided by London Eventually London and the Cobra Emergency Committee were brought together. Prime Minister Boris Johnson has announced sanctions against five Russian banks and three prominent figures close to President Vladimir Putin, arguing that if the situation does not change, this will be the first step in the economic process.
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