Oil, gas or other energy sources from the Russian Federation will now have fewer ways to get paid, which is complicated by the Kremlin to receive foreign exchange revenues.
The United States has banned foreign companies to conduct calculations for Russian energy resources through sanctions on banks to press the Russian Federation. Reuters reported this on Thursday, March 13.
“The United States has strengthened sanctions against Russia, foreign companies prohibited from conducting calculations for energy sources through penalties on Russian banks,” the report said.
It is complicated for the Kremlin to receive money earnings from exporting oil, gas and other energy sources.
In particular, the U.S. Department of Finance confirmed that the license, allowing the completion of energy transactions to Russia’s financial institutions, which ended this week, as planned, within the framework of poor penalties imposed by the Biden administration. This means stopping transactions to banks such as Sberbank, VTB and the central bank of the Russian Federation.
The Trump administration “remains committed to stopping adventures and upholding negotiations at the end of the war,” said a representative of the Ministry of Finance.
“We continue to introduce our penalties, which remains one of the levers to achieve these goals,” the American department added in a statement.
This means that buyers of oil, gas or other energy sources from the Russian Federation will now have fewer ways to get paid, which is complicated by the Kremlin to receive money earnings.
Remember, according to official numbers, Russian economic problems have become more pronounced. According to last year’s results, Russian companies arrived 30.4 trillion rubles, 6.9% less than 2023.
Kremlin recalls penalties before negotiations with the United States
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.