Moments ago, as was widely preannounced, the US Treasury unveiled its latest round of Russian sanctions. While the bigger picture was well-known, here are some of the highlights:
U. S. SANCTIONS FOCUS ON FINANCIAL, ENERGY, DEFENSE SECTORS U. S. TREASURY ADDS SBERBANK TO SANCTIONS LIST, U. S. TREASURY SANCTIONS AFFECTS GAZPROM, GAZPROM NEFT, LUKOIL, ROSNEFT, AND SURGUTNEFTGAZ U. S. TIGHTENS DEBT FINANCING RESTRICTIONS TO 30 DAYS As Bloomberg reports, action deepens existing sanctions on Russian financial institutions, expands sanctions on Russia’s energy sector, targets additional energy- and defense-related firms, U. S. Treasury says in statement. “Today’s actions demonstrate our determination to increase the costs on Russia as long as it continues to violate Ukraine’s territorial integrity and sovereignty,” Under Secretary for Terrorism and Financial Intelligence David S. Cohen says in statement
Treasury Dept says it ‘maintains significant scope to expand these sanctions.’
Sberbank added to sanctions list; Treasury also tightens ‘debt financing restrictions by reducing from 90 days to 30 days the maturity period’ for sanctioned banks
Also imposes sanctions that ‘prohibit the exportation of goods, services (not including financial services), or technology in support of exploration or production for Russian deepwater, Arctic offshore, or shale projects that have the potential to produce oil’
Step affects 5 cos.: Gazprom, Gazprom Neft, Lukoil, Surgutneftegas, and Rosneft, Treasury says
And instantly: PUTIN: GOVT DRAFTING PROPOSALS TO RETALIATE AGAINST SANCTIONS
PUTIN SAYS RUSSIA TO RETALIATE ONLY IF IT SERVES ITS INTERESTS PUTIN SEES MORE POSITIVES THAN NEGATIVES IN LATEST SANCTIONS PUTIN SAYS UKRAINE `HELD HOSTAGE’ BY OUTSIDE INTERESTS PUTIN SAYS RUSSIA WON’T IMPOSE TRAVEL BANS IN RETALIATION So back to square one, as Russia and China get progressively closer.
This post was published at Zero Hedge on 09/12/2014.