Thread by @Mylovanov

Recently, there’ve been reports of the U.S. easing Russian sanctions

Is this a carrot& stick game after the passing the aid? Is this signaling to Russia that the U.S. is willing to “de escalate” if… Or is this a sign of some covert negotiations with Russia?

Specifically, 1/

The reports said that U.S. now allows transactions related to energy with the Russian banks.

The problem is that it is quite misleading.

It is true that the sanctions have been eased relative to the start of the invasion. 2/

But the decision is not new and happened many months ago

What is immediately new is that easing of the sanctions s works through an exemption. And this exemption was set to expire last week. The U.S. renewed it until November. 3/

So, yes, the sanctions technically are eased because they were supposed to come into effect. But the U.S. keeps doing it and now it has become a technicality.

What is really the exemption? The U.S. allows transactions related to energy. 4/

Energy is broadly understood as “extraction, production, refinement, liquefaction, gasification, regasification, conversion, enrichment, fabrication, transport, or purchase of petroleum, including crude oil” but even 5/

“coal, wood, or agricultural products used to manufacture biofuels, or uranium in any form, as well as the development, production, generation, transmission, or exchange of power, through any means, including nuclear, thermal, and renewable energy sources 4/

The banks that are de-sanctioned are:

The Central Bank of Russia

Vnesheconombank

Otkritie

Sovcombank Open Joint Stock Company

Sberbank of Russia;

VTB Bank

Alfa-Bank

Rosbank

Bank Zenit

Bank Saint-Petersburg 5X