The US Treasury announced a license authorizing energy-related transactions with Russian banks, in particular VTB, Central Bank, Sberbank and Alfa Bank. What is said in the document, the reasons for this decision and what impact the easing of sanctions against the aggressor country will have — ICTV facts were learned from political scientist Alexey Yakubin.
U.S. Treasury license for Russian banks
According to the document, the US Treasury Department allowed transactions with Russian banks, in particular with VTB, Central Bank, Sberbank and Alfa Bank, for settlements in in the energy sector until November 1, 2024.
Otkritie banks, Sovcombank, Rosbank, Zenit Bank, St. Petersburg Bank and others are also named among the financial institutions that received a temporary license.
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The ministry's resolution notes that transactions relating to the extraction, production, refining, liquefaction, transportation or purchase of oil and a number of other energy resources, including LNG, timber, coal and uranium, will be considered energy-related.
Reasons for the decision regarding Russian banks
The adoption of such a decision, according to political scientist Alexei Yakubin, is due to the desire to create tools to control the income that Russia receives from the energy market.
— We have seen several signals from the United States that they are concerned and want to control the situation on the global energy market. I think that this decision is precisely aimed at stabilizing it, creating opportunities and tools for the United States to influence the energy sector. Since we understand that Russia, despite the sanctions, is constantly selling energy resources.
Today I saw a message from Great Britain that the country's leading tanker association submitted information to parliament that, in fact, Russia is circumventing the sanctions regime regarding oil and energy resources and continues to sell them at a different price than Western countries set. And all this bypassing restrictions, — explains the expert.
In addition, Yakubin notes that the United States has come to the realization that with a complete ban they have also cut off opportunities for themselves to obtain information and control the sphere in the world energy market.
— That is why these steps have been taken as an attempt to retain additional leverage over Russia, — adds the political scientist.
Consequences of the US decision regarding Russian banks
With a decision on Russian banks, according to the expert, the United States will be able to at least demonstrate to the entire world community its interest in stabilizing the world energy market.
— Most likely, the states will actively support this message; look, understanding the critical importance of this area for the global market, we have taken such a step.
It is clear that in Russia they will try to use this and broadcast it from such a perspective that you see they cannot refuse our energy resources and the like. But in fact, I see here on the part of the states and on the part of the West in general, rather an attempt to stabilize the global energy market, — says Yakubin.
In addition, in parallel with this, this could help provide the Western financial system with control over energy resources, since, according to well-known information, Russia has earned almost a trillion dollars in this market since 2022, bypassing sanctions, through India, China and other countries.
