The Americans have greatly complicated Russia’s access to capital markets and settlements, Andrei Pyshny said.
New large-scale US sanctions against Russia dealt a heavy blow to the financial infrastructure of the aggressor country. The head of the National Bank of Ukraine Andrey Pyshny wrote about this on Facebook the other day.
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According to him, the first emphasis of the package is that the Moscow Exchange, which is the main player in the Russian market for currency trading and IPOs of Russian companies, is included in the sanctions list. In addition, sanctions were imposed against the companies associated with it – the National Settlement Depository and the National Clearing Center.
“The personal blocking of sanctions against the Moscow Exchange is, of course, a strong blow to the financial infrastructure of the Russian Federation, which will significantly complicate Russia’s access to capital markets and settlement,” the leader of the NBU wrote.
According to him, the second emphasis of the package is the significant increase in the risk of secondary sanctions for foreign financial institutions. A US presidential order in December 2023 introduced the possibility of applying secondary US sanctions to foreign financial institutions that conduct/facilitate transactions or provide services to persons associated with the military-industrial base of the Russian Federation. Now, for the purposes of US secondary sanctions, any person subject to US sanctions as part of the Russian sanctions program is considered to be associated with the Russian military-industrial sector.
“That is, all foreign banks that work with sanctioned persons of the Russian Federation are in the focus of attention of the US Treasury and, accordingly, in the risk zone, we expect banks to strengthen their compliance with clients and transactions related to Russia.” Pyshny noticed.
He also noted new sectoral sanctions – a ban on providing certain IT services to the Russian Federation, which means closing the Russian Federation’s access to leading technological solutions from American suppliers.
Let’s recall that on June 12, the United States introduced a powerful package of sanctions against 300 individuals and legal entities in Russia and other countries that aid the Kremlin’s military machine. On the same day, the Moscow Exchange announced the suspension of trading in dollars and euros from June 13. And now such a decision was made by the Bank of Russia.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.