A blank space on today’s WSJ A1 where Evan Gershkovich’s reporting should be, one year after his arrest on patently false charges. Russia should free him now
I had expected more third country targets that are less fungible and would have had greater deterrent effect. This is more of the same approach, rather than any new ground in sanctions on Russia.
Big numbers but not big impact on the 2nd anniversary of Russia’s brutal war against Ukraine. Russia can easily replace these targets and the US will then have to find those new names to sanction, a game of whack a mole that is hard to win.
https://t.co/7QLddHWSBn.
Big Russia sanctions list out. Broad but not as impactful as run-up rhetoric suggested. Lots of Russian companies in lots of relevant industrial sectors; some smaller Russian banks & the Russian payment card system; and some evasion targets (China, Serbia, UAE, others). @ACGeoEcon@brianoftoole 1/2
https://t.co/i2FZE2l0hN
They took years to kill Navalny hoping you would be desensitized when they finally did. Their tactic in Ukraine is no different. Except we can do something about it.
@dantannNYC@yarbatman@jp_koning Everyone’s right! Dan is spot on the clearing piece being the issue. In practical terms though, very, very hard to do much book transfer volume without clearing in US.
Sneaky big deal. OFAC removed the typical knowledge threshold required to impose sanctions. Means OFAC doesn’t have to prove someone knew the transaction was problematic. Flip it around: people may have to worry about unknown unknowns re Russia payments.
Stand by for additional US financial sanctions against Russia. This would be the third significant sanctions tranche this month (others include new sectoral sanctions and tightening of oil price cap enforcement).
This is a novel action and goes beyond similar sanctions imposed on Iran, North Korea, and terrorists. Predicting impact is hard since we haven’t seen this before. Opens OFAC’s aperture if they choose to use it. Will watch with great interest.
Among a litany of other reasons this idea doesn’t work: this is not legal for the US to do. It flies against all sorts of other legislation.
https://t.co/vJriIu7GYY
@BrewerEricM It’s already restricted and can’t be formally “frozen” cause it’s not in the US. The US can simply refuse to allow any transactions on it by threatening to enforce existing sanctions, which would immobilize the funds.
An Israel Defense Forces source provided FDD's @LongWarJournal with a photograph of a child's blood-soaked bed in Kibbutz Kerem Shalom following a Hamas-led attack on the home.
Dollar Usage in Global Payments in July Rises to Record, Swift Says
The figures show greenback-related trades rose to a record 46% in July, compared with slightly more than one-third a decade ago. The dollar was the top currency as measured by transaction count, followed by the euro, pound, yen, and yuan. https://t.co/GSLzxGy9lj
The Admin is rightly prioritizing technical expertise & nonpartisan public service in both appointments. Not to be lost is the elevation of Brad Smith to Director of OFAC, fmr Chief Counsel + DOJ OLC, who brings apolitical integrity & commitment to rule of law & due process.