#Russia_Sanctions: The US has been assuring its banks that they continue to do business in Russia with critical companies that are exempt from sanctions. To minimize the negative effects of sanctions on food and energy prices, financial institutions such as Citibank & JP Morgan⤵️
were allowed to transact with Gazprom and Phosagro and Uralkali (fertilizers). On the other hand, the Russians themselves were using the “grains deal” also to put pressure on the EU to ease sanctions on Russian fertilizer producers and Rosselhozbank.⤵️
The adjustment of sanctions by the US and the EU is part of the logic of not harming themselves more than Russia. Since inflationary tendencies are also fueled to some extent by sanctions, revisiting the sanctions regime means making them⤵️
disrupt the Russian economy efficiently while shielding the Western ones. This is a difficult mission, but since the war is going to last, Western allies need to make sure they remain stable in order to support Ukraine.
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