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18/12/2024
Wednesday
18 December 
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
US AND UK SANCTIONS: WHAT THREATS RUSSIAN ECONOMY?
The largest Russian banks (including VTB) and the Aeroflot airline fell under the sanctions. This was announced yesterday by British Prime Minister Boris Johnson. According to him, Rostec, the United Aircraft and Shipbuilding Corporation and a number of defense enterprises in Russia will be subject to sanctions.
In the United States, a similar decision was made just a few hours later. During this time, VTB Bank managed to sell several shares in Post Bank, thereby reducing its assets in it to less than 50%. A controlling stake in the Dynamo football club was sold as well to release the organization from sanctions.
Thus, Dynamo FC avoided the fate of FC CSKA, which is owned by VEB and was previously blacklisted.
VTB Bank gave recommendations to depositors not to temporarily conduct settlements in foreign currency, although the company's inclusion in the SDN list does not imply a complete blocking of assets, it is only about American jurisdiction and a ban on conducting financial transactions with American businesses.
In addition to VTB and its 20 subsidiaries in the Russian Federation and other countries, Otkritie FC (owned by the Central Bank), Sovcombank and Novikombank turned out to be under sanctions of the United States. Sovcombank, as it was noted by the US Treasury, ended up in SDN because of its systemic importance, and Novikombank was considered as a financial institution through which Russian defense enterprises operate.
Sberbank, along with 25 of its subsidiaries, also fell under US sanctions.
It was included in the so-called CAPTA list, where a Chinese bank (Bank of Kunlun) appeared in March 2019. Formally, the changes will take effect on March 26, 2022, when American financiers will not be able to legally open bank accounts and will reject payment transactions.
Unlike VTB, for which sanctions of blocking nature have been introduced, Sberbank's funds themselves are not planned to be frozen. This means that the bank will still be able to buy services from the US, but will not be able to process transactions through US financial institutions.
The list of so-called sectoral sanctions (in force for the last 8 years) also included new organizations, and the measures themselves were tightened. US citizens will not be able to purchase debt obligations of Russian structures deposited there (Rosneft, Rostec, VEB.RF, etc.) for a period of more than 14 days. Russian railways, ALROSA, Gazprom, MKB and Alfa-Bank have now been added to the former members of this list.
It is known that the sanctions did not affect US trade operations with Russian suppliers of fuel (oil, gas, uranium).
Considering that over the past year Russian companies sent oil products worth $8.7 billion to the United States, and indirectly (through other countries) the United States purchased oil from the Russian Federation for $17 billion, sanctions in this case could lead to a significant increase in prices, which is unprofitable for the American market.
A number of the EU countries called on the US and the UK to disconnect the Russian Federation from the SWIFT system, through which global banking operations are carried out, but unity on this issue has not yet been achieved. According to experts, Russian banks are among the top three financial institutions in terms of the number of transactions made through SWIFT. In total, SWIFT is used by 11 thousand credit organizations in 200 countries of the world.
