The Biden administration is trying to maintain sanctions pressure while avoiding “a global economic catastrophe,” the agency says
The Biden administration is privately urging leading US banks like JPMorgan Chase and Citigroup to continue doing business with strategic Russian firms despite sanctions imposed on Moscow over the conflict in Ukraine, people familiar with the issue told Bloomberg.
The requests have been made by the US Treasury and State Departments as the government tries to maintain pressure on Russia, but at the same time avoid “a global economic catastrophe,” the news agency reported on Monday.
Washington has been requesting services such as US dollar settlements, payment transfers, and trade finance for Russian firms that are exempt from certain aspects of the sanctions, including gas giant Gazprom and fertilizer producers Uralkali and PhosAgro, the sources said.
As a result, the largest American banks are currently being “caught in the push-pull” between the Biden administration and Congress, which insists on harsher measures against Moscow.
The sanctions prevent US banks from providing services to blacklisted entities and people, with violations punishable by multibillion-dollar fines.
Jamie Dimon the CEO of investment bank JPMorgan Chase was reportedly grilled at a congressional hearing in September over his company allegedly using loopholes in the sanctions regime to keep working with Russia. The banker responded by saying that “we are following the instructions of the American government as they asked us to do it.”
When addressed on the matter by Bloomberg, a Treasury spokesman said that it had issued guidance to banks, clarifying that activities in humanitarian aid, energy, and agriculture are authorized. JPMorgan and Citigroup have declined to comment.
“Congress needs to understand this - the US government has not imposed a comprehensive embargo with Russia, there’s still pockets of business that are allowed,” Nnedinma Ifudu Nweke, an attorney specializing in US economic sanctions at Akin Gump Strauss Hauer & Feld LLP, pointed out.
The Treasury “will continue to have meetings to educate banks on those pockets of allowable transactions, especially in the humanitarian space,” Nweke added.
https://www.rt.com/russia/566119-us-banks-sanctions-ukraine/
The US House Oversight Committee has published roughly 20,000 pages of documents from the sex offender’s estate
US Democrats have released an email in which convicted sex offender Jeffrey Epstein claimed that President Donald Trump was aware of women procured for sex trafficking.
The email is part of some 20,000 pages of documents from Epstein’s estate published by the US House Oversight Committee on Wednesday. The documents include correspondence between Epstein and his close associate Ghislaine Maxwell, who is currently serving a 20-year sentence for sex trafficking and related offenses.
In a 2011 email, Epstein wrote to Maxwell that a victim, whose name was redacted, “spent hours at my house with him,” referring to Trump. In a 2019 email to journalist Michael Wolff, Epstein said Trump “knew about the girls as he asked (Ghislaine) to stop.”
The documents show Epstein referenced Trump multiple times, calling him “borderline insane,” a “maniac,” and “f**king ...
US President Donald Trump has called on Israel’s president to pardon Prime Minister Benjamin Netanyahu in a move widely seen as political meddling in favor of an embattled ally, who is wanted by the International Criminal Court for war crimes and crimes against humanity.
Israel’s presidential office released a statement on Wednesday, confirming that Trump sent a letter to President Isaac Herzog urging him to dismiss Netanyahu’s legal case.
“I hereby call on you to fully pardon Benjamin Netanyahu, who has been a formidable and decisive War Time Prime Minister,” Trump wrote on social media.
Trump praised Netanyahu’s aggressive policies towards Iran as commendable, framing them as a justification for dismissing the corruption charges.
“While I absolutely respect the independence of the Israeli Justice System, and its requirements, I believe that this ‘case’ against Bibi, who has fought alongside me for a long time, including......more below
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Dozens of Israeli settlers have launched a wide-scale attack on industrial and agricultural facilities in the northeastern sector of the West Bank, sparking major fires and injuring several Palestinians amid a surge of settler violence in the occupied territory.
The official Palestinian news agency WAFA, citing local sources, reported that settlers set fire to multiple vehicles, including four trucks belonging to a dairy factory in al-Lada’in industrial zone near the town of Beit Lid east of Tulkarm, and caused damage to the facility itself.
Settlers also destroyed nearby farmland, metal sheds, and tents used by a small Bedouin community living in the area.
Videos posted online show smoke engulfing the area, with Palestinian women heard shouting in the background, and men carrying extinguishers and water buckets scrambling to put out the fires.
Footage shows torched trucks, tents, and metal sheds, and smashed car windows......more below
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