US allows transactions with Russian banks to pay for energy
(Baonghean.vn) - The US lifted some bans and allowed transactions with Russian banks for payments in the energy sector until November 2024.
According to RIA Novosti, with the permission of the Ministry of Finance, the US has extended the license to trade with Russian banks for payments in the energy sector.
"All energy-related transactions prohibited under Executive Order 14024 involving one or more designated entities are permitted to proceed through November 1, 2024," the document states.
The list includes Otkritie, Sovcombank, Sberbank, VTB, Alfa-Bank, Rosbank, Zenit, Bank of St. Petersburg, as well as the Central Bank of Russia.
Since Russia began its special operation in Ukraine, the United States has imposed a number of sanctions on Russian entities, especially financial institutions. At the same time, the US Treasury Department initially allowed energy-related transactions with some limited structures.
The previous version of the US general license to transact with Russian banks clarified that the term “energy-related” means the extraction, production, refining, liquefaction, gasification, re-gasification, conversion, enrichment, manufacture, transportation or purchase of petroleum, including crude oil.
In addition, the trading license also includes liquefied natural gas (LNG), petroleum products and natural gas, coal, wood and uranium.
The US has repeatedly explained that the purpose of the restrictions is to deprive Russia of income from the sale of raw materials, but at the same time avoid damage to the global energy picture. However, the reality is contrary to what Washington wants.
Despite the fact that Russia's main fuel importer - Europe - has reduced oil and gas purchases from Moscow, Russia is still looking to increase supplies to "friendly countries". As Deputy Prime Minister Alexander Novak said, in 2023, Russia increased the share of oil exports to these countries to 86% and oil products to 84%.
