The White House in Washington DC. File photoWASHINGTON, Jun 15The American administration is not able to fully control the anti-Russian sanctions, which turned out to be largely at the mercy of private business, follows from an article by Bloomberg agency. In Washington, according to the publication, they were initially encouraged by the willingness of large companies to curtail business in Russia, but were caught off guard by a variety of the unexpected consequences of such an outcome — from rupture of supply chains to the inability to insure export shipments of grain. «Some representatives of the administration of (U.S. President Joe) Biden have privately expressed concern that instead of the deterrent effect on the Kremlin, for which they were conceived, sanctions exacerbate inflation, worsen food security and punish ordinary Russians more than (Russian President Vladimir) Putin and his allies,” writes Bloomberg. At the same time, the agency sees no signs that the White House considers the sanctions policy to be erroneous and are going to ease the pressure.
Senator Pushkov told what the West is afraid of imposing new sanctions Bloomberg cites data from researchers from Yale University, who estimate that about a thousand companies have completely or partially curtailed their activities in Russia. This outsourcing to the private sector means that sanctions are becoming less «surgical, calibrated and receptive to political change,» Adam Smith, former senior adviser to the U.S. Treasury Sanctions Office, is quoted by the agency as saying. it's hard to even suggest, … since the exit of American business was largely proactive. Companies may face a negative public reaction if they are suspected of hastily returning to the Russian market,» the article says. confusing sanctions rules and not receiving timely clarifications from the authorities. «Companies are asking, 'Should we sanction this entity?' The government is saying, 'You have to make your own decision,'» Justin Walker, head of Global Sanctions and Risk at the Association of Certified Money Laundering Professionals, was quoted by Bloomberg.
Treasury Department Hires Additional Staff Due to Sanctions Against Russia In May, the Treasury Department issued a general license that allows US companies to pay taxes, duties and various fees in Russia until September 30th. “The message was clear: doing business in Russia is allowed, provided that companies do not work with sanctioned structures,” the publication says. The Biden administration “encourages trade interaction, including in the agricultural, medical and telecommunications sectors.” “For example, the US government is quietly pushing agricultural and shipping companies to expand the purchase and transportation of Russian fertilizers,” Bloomberg writes, citing informed sources. The departure of leading US companies leaves market niches for their foreign competitors, including Russian firms buying up assets or even zero prices. «(It) does some psychological damage to Russia, psychological trauma, … but the weakening of American soft power is what the US wants,» Bloomberg quotes Smith.
SPIEF will consider the situation with anti-Russian sanctions, Ushakov said
