The US will penalize any country that violates its sanctions, albeit it will not go after China because it is fearful of what an escalation would look like. Knowing this full well China is buying 700K barrels of Iranian oil every single day, as they violate US sanctions.
One takeaway from the current situation around Russian crude oil is that if the price reduction is cheap enough, Russia would still find potential buyers in businesses that rely on Urals crude. There have been reports that Shell bought Russian oil at a record discount of $28 a barrel amid
After facing secondary sanctions over a weapons pact with Russia, India and Russia decided to arrange payments through the rupee-ruble exchange in 2014. Faced with a similar situation in the present, it is going to be interesting to see how India and Russia plan to bypass the dollar.
Since February 21, when Russia acknowledged the separatist republics of Donetsk and Luhansk in eastern Ukraine, laying the groundwork for the special military operation three days later, Western nations have instituted a succession of economic sanctions against hundreds of Russian political leaders and corporate tycoons who regulate the country’s media,
A top State Department official recently informed Congress that Washington is considering sanctions against India over its acquisition of Russian arms. The US is also pressuring India to distance itself from Moscow in the present Ukraine situation.
The West has taken an extreme stance against Russia over its invasion in Ukraine. This reaction exposes a high degree of hypocrisy considering that US-led wars abroad never received the punitive response they deserved.
So a congregation of NATO’s top brass ensconced in their echo chambers target the Russian Central Bank with sanctions and expect what? Cookies?
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is the global financial system that allows immediate and secure transfers of money across borders. It is the web that verifies all financial transactions. It links 11,000 banks and institutions in more than 200 countries, with 40 million messages a day. Using SWIFT
India is exploring a rupee payment mechanism with the objective of trying to guarantee that Russian banks and firms open accounts with state-run Indian banks in order to settle trade settlement. This entire scheme is for the purposes of establishing trade with Russia and to avoid sanctions.