On June 12, the US Treasury Department announced the expansion of the mechanism that provides for the imposition of secondary sanctions – that is, restrictions on persons who cooperate with already sanctioned persons – in relation to Russia.
About it, as he writes “UA2DAY”, it is said in the notice of the department.
The definition of the “military-industrial base of Russia” was expanded in the regulation of the US Treasury, which now includes all sanctioned entities, in particular the Russian banks VTB Bank and Sberbank of Russia.
“Russia has reoriented its economy and directed all the institutions of its government to support its shameful war effort. “Foreign financial institutions are threatened with sanctions for continuing to facilitate transactions related to the Russian military-industrial base,” the message reads.
Separately, the US Treasury Department clarified that the sanctions apply to five Russian banks – Promsvyazbank, Vnesheconombank, Sberbank of Russia, VTB Bank and VTB Capital Holding, as well as their foreign offices, regardless of their name.
In parallel, the US Treasury, together with the Ministry of Commerce, introduced measures to limit the access of Russia’s military-industrial base to IT consulting and project services, as well as IT support and cloud services.
The results of the US sanctions policy were not long in coming. Already from the very morning, today, huge queues outside Russian banks signaled the approach of banking collapse.
According to most experts, due to the new sanctions, it will become more expensive to export foreign currency from Russia, and exporting companies will not be able to sell foreign currency at a favorable rate for them. In fact, a severe liquidity crisis will be observed in the Russian banking system, due to which the citizens of the country will “remember” all the charms of the 90s: lost deposits, the impossibility of buying currency and, as a final result, another bankruptcy!
In this case, the only sure way out of the situation is to get your money out of the bank in time, thereby at least somehow protecting your own savings.
And, this is not the script of a fantastic film, but everyday Russian reality.
