Russian stocks fell further, as of press time, Russia The RTS index fell to 6.19%, and the Russian MOEX index fell to 5.92%.
It is rumored that the United States is ready to respond to Russia's initial sanctions plan: Russia is immune to sanctions
According to Reuters, three people were quoted The U.S. government has prepared an initial set of sanctions against Russia in the event that a Russian invasion of Ukraine does occur, people familiar with the matter said, including barring U.S. financial institutions from processing transactions for major Russian banks.
However, Russian President Vladimir Putin said that Russia is "immune" to sanctions, given that Russia has many years of experience in dealing with various sanctions.
U.S. ready for initial sanctions package
If Russia invades Ukraine, U.S. will cut off targeted Russian banks with U.S. banks, sources say "correspondent" banking relationships with the aim of harming the Russian economy.
The source also said the U.S. could also impose the strongest possible sanctions on certain Russian individuals and companies, placing them on a "blacklist" -- the Specially Designated Nationals List (SDN). This effectively amounts to kicking them out of the U.S. banking system, banning them from trade with Americans, and freezing their U.S. assets.
The exact target of the sanctions could not be identified, given that plans could change at the last minute, the sources said. However, they believe that top Russian financial institutions, including VTB Bank, Sberbank, VEB and Gazprombank, could be in the target range.
While cutting off correspondent banking ties would be less severe than SDN, experts consulted by Reuters said it could still deal a major blow to targeted banks by making it difficult for them to transact in dollars.
Both sanctions could hit Russia hard, said Kay Georgi, a Washington-based lawyer specializing in international trade.
He said: "Given the large number of global trade transactions that are settled in US dollars, this (severing the correspondent banking relationship) would be a strong sanction. However, compared to being put on the SDN list and frozen in the US or The sanctions are no more complex and deadly for all the assets in the hands of Americans.”
The source also noted that the government may waive restrictions on certain transactions if deemed necessary.
The U.S. financial industry has been jittery
For weeks, despite Russia's denials that it will invade Ukraine, the Biden administration has issued frequent warnings and Has been threatening to impose tough banking sanctions on Russia to stop Russia from invading Ukraine.
Peter Harrell, a member of the National Security Council, said last month that "tough financial sanctions" were part of his strategy to harm the Russian economy but not harm its citizens.
“The purpose of financial sanctions is really to inflict short-term upfront costs on Russia, trigger capital flight, trigger inflation, and force Russia’s central bank to bail out its own banks,” he said in a speech late last month. .
The stern warnings have already rattled some U.S. financial firms. Members of the U.S. financial services and payments industry have been in contact in recent days with the U.S. Treasury Department’s Office of Foreign Assets Control, which enforces the sanctions, the sources said.
Last weekend, with Russia extending theThe military exercise in Sri Lanka has intensified concerns among Western powers that Russia is about to invade Ukraine, and tensions have further increased.
Biden and Putin agreed in principle on Sunday to hold a summit, the French presidency said on Sunday evening local time, offering hope of avoiding conflict.
British Prime Minister Boris Johnson said the United States and Britain would cut off Russian companies' access to dollars and pounds if Russia ordered an invasion.
Russia: already "immune" to sanctions
According to a report by "Russia Today" on February 20, Putin recently met with Belarusian President Lukashen. "No new sanctions will prevent Russia from doing what it wants, because Russia has many years of experience dealing with sanctions of all kinds. Russia is already 'immune' to sanctions," said a joint news conference held by Koko.
Putin pointed out that Russia will "inevitably" face various sanctions imposed by the West on Russia, but these sanctions are not to make Russia change its practices, but the West's plan to hinder Russia's economic development.
He said, "The West will impose sanctions on Russia under any circumstances. Like now, the West will impose sanctions on Russia on the grounds of the Ukraine crisis in order to delay the development of Russia and Belarus. If There is no reason, these countries will also find an excuse to impose sanctions on Russia."
Putin also emphasized that Russia believes that these sanctions are "tools for unfair competition" by the United States and its allies, and Saying sanctions are illegal, “[the U.S. and other countries’] practices are a serious violation of international law. These countries will only pay attention when the relevant regulations and laws are beneficial to the United States and other countries. These countries only start from what is beneficial to them. Explain everything from an angle, while ignoring the interests of other countries."
Putin pointed out that in order to mitigate the impact of sanctions on Russia and Belarus, the two sides should develop economic cooperation and import substitution. (Source: Financial Associated Press)
(Article source: Oriental Wealth Research Center)Article source: Oriental Wealth Research Center