What's wrong with sanctions: the largest US banks returned to trading in Russian government bonds
There was information about the actual circumvention in the United States of America of sanctions against the Russian public debt, which were previously introduced there. This is reported by journalists of the major American publication Bloomberg. What is the legitimate circumvention of the sanctions regime in this regard?
According to Bloomberg, the largest US banks have returned to trading in Russian government bonds. We are talking about banks such as Bank of America and JP Morgan. At the same time, the bank's management said that Russian bonds could be traded through individuals.
The material states that trading in Russian government bonds "through individuals cannot be considered a violation of US Treasury sanctions." It is noteworthy that such an explanation, as American journalists write, was given by the United States Department of the Treasury itself. The commentary of the department says that banks can act as intermediaries in the implementation of transactions in Russian government bonds (bonds) between individuals.
This news provoked controversy among Western experts. In particular, it is noted that such a “clarification” from the US Treasury actually removes the trade in Russian bonds from the sanctions regime. At the same time, it is said that, in fact, the sanctions in this segment did not actually work, moreover, they also caused damage to the United States itself - first of all, they deprived American banks of the opportunity to receive large profits. There is also a version that banks took such a step involuntarily - due to the fact that many US private pension funds had previously invested in Russian bonds, and after the imposition of sanctions, they lost the opportunity to provide millions of their customers within the framework of contractual obligations.
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