m.m.f
Forumer storico
auspichiamo che NON si limiti a Gazprom ma anche i governativi...
Bond Russia, Gaz etc. pagamenti ricevuti cedole e capitale. Elenchi in prima pagina
- Creatore Discussione angy2008
- Data di Inizio
auspichiamo che NON si limiti a Gazprom ma anche i governativi...
demox000
Forumer attivo
www.bloomberg.com/news/features/2025-03-12/war-in-ukraine-investors-bet-russia-is-coming-back-to-global-financial-markets?srnd=phx-fixed-income&embedded-checkout=true
1. Commercianti londinesi cercano freneticamente obbligazioni russe, in particolare quelle di Gazprom, per soddisfare la domanda di family office mediorientali.
2. La scarsa offerta e la crescente domanda hanno fatto diminuire i rendimenti dei bond russi in dollari ed euro di circa cinque punti percentuali a febbraio.
3. Gli investitori scommettono sul fatto che le aperture di Trump verso Mosca si tradurranno nel ritorno della Russia ai mercati finanziari globali, con conseguente aumento del valore dei titoli scontati.
4. Anche gestori patrimoniali stanno valutando investimenti sul rublo tramite contratti forward non consegnabili, non soggetti a sanzioni.
5. Banche come Goldman Sachs e JPMorgan facilitano la crescente domanda di attività legate alla Russia.
6. La scommessa comporta rischi reputazionali e legali, a seconda dell'evoluzione della situazione geopolitica e delle sanzioni.
7. Le mosse per tornare a investire in Russia avvengono in un contesto politico volatile, con Trump che ha ridefinito le relazioni tra Stati Uniti, Ucraina e Russia.
8. Il Cremlino desidera soprattutto la revoca di alcune restrizioni bancarie statunitensi per agevolare i pagamenti transfrontalieri.
9. Il ritorno degli investimenti occidentali in Russia sarà difficile, con condizioni severe imposte dal governo russo sulle aziende che cercano di rientrare.
10. Rimangono enormi ostacoli, tra cui le sanzioni, la guerra in Ucraina e le divergenze tra Stati Uniti ed Europa.
bloomberg.com
By Bloomberg News12 marzo 2025 at 22:01 CETBookmarkSaveTranslate
13-17 minuti
Traders at one London brokerage have been scouring the financial world in recent weeks for an asset almost untouchable for the past three years: Russian debt. They have been racing to find owners of dollar-denominated bonds issued by Gazprom to meet demand from Middle Eastern family offices.
They quickly found the Russian energy behemoth’s bondholders were either unwilling to sell or demanding significantly higher prices, according to two traders who spoke on condition that neither they nor the firm were identified because of the sensitivity of the transactions. This combination of limited supply and growing demand helped to drive down yields on dollar and euro-denominated Russian bonds by about five percentage points in February, one of the traders estimated.
Follow The Big Take daily podcast wherever you listen.
The transactions — revealed here for the first time — are among the clearest indications yet that investors are quietly betting that US President Donald Trump’s overtures to Moscow for a deal to end the war in Ukraine will eventually translate into Russia’s return to the global financial markets. The buyers are wagering that the deeply discounted securities could soar in value if the sanctions imposed on Russia after its invasion of Ukraine in 2022 are lifted.
Investors “understand that as soon as there’s a thaw, these discounts will collapse,” said Iskander Lutsko, Dubai-based head of research and portfolio management at Istar Capital, an investment firm and wealth manager with about $1 billion under management.
Money managers, too, say they are receiving approaches from Wall Street sales teams gauging their interest in making bets on the ruble through non-deliverable forwards — derivatives that because they don’t involve a physical Russian asset or individual person aren’t subject to sanctions. The Russian currency has gained 13 percent against the dollar since the start of the year, according to Bank of Russia data.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. are among banks that have been acting as brokers to facilitate growing investor demand for ways to trade Russian-related assets, people familiar with the matter said.
“There’s an aggressive search for securities of Russian issuers around the world,” said Evgeny Kogan, a Moscow-based investment banker who runs his own advisory firm. “Investors in general are asking how quickly they can enter the Russian market.”
In this pool photograph distributed by Russian state agency Sputnik, President Vladimir Putin arrives for his inauguration ceremony at the Kremlin in Moscow, on May 7, 2024.Photographer: Sergei Bobylov/Sputnik/AFP/Getty Images
Both sides of the bet represent a massive geopolitical gamble. At stake in the rehabilitation of Russia are hundreds of billions of dollars in trade and investment opportunities through the easing or removal of sanctions by the US and its Group of Seven allies. President Vladimir Putin’s attempts to lure Trump with potential joint US-Russia projects are only adding to the fervor.
But these wagers come with multiple risks — reputational if an investor or company moves too early to restore ties with a country responsible for Europe's largest conflict since the Second World War; and legal, if sanctions aren’t lifted or are later re-imposed. On March 7, Trump warned he was “strongly considering” fresh banking sanctions on Russia while still preparing to negotiate to end the conflict.
Read More: Putin Likely to Drag Out Ukraine Truce Talks to Seek Terms
US envoy Steve Witkoff is expected in Moscow this week for discussions over a proposed 30-day truce. But even if Trump succeeds in halting the fighting now, there will remain an unstable, heavily-armed frontline and an ever-present risk of the war reigniting if Putin sees a chance to subjugate all of Ukraine or Kyiv attempts to take back territory left under Russian occupation. Europe is ramping up plans for as much as €800 billion ($870 billion) in additional defense spending for this new era of insecurity.
Military recruitment posters in Moscow. Massive state spending on defense production has created a war economy.Photographer: Nanna Heitmann/The New York Times/Redux
The Kremlin was surprised at the intensity of Trump’s engagement with Putin, according to a person with knowledge of the matter. What Moscow most needs is for the US to lift at least some bank restrictions to ease trading in dollars, the person said, asking not to be identified discussing internal issues. That would help overcome growing cross-border payments difficulties for Russian businesses.
Enormous hurdles stand in the way of Russia coming in from the cold. Three years of war unraveled three decades of deepening Western involvement after the Soviet Union’s collapse, that radically reshaped Russia’s economy and outlook. A widening divide between the US and Europe over Ukraine’s defense — a byproduct of the rapprochement between Trump and Putin — threatens the most serious breakdown in relations since World War II. It may even presage a fundamental realignment of global power as Trump reaches out to Putin and Chinese President Xi Jinping, potentially threatening the NATO alliance that’s been the cornerstone of Western defense for 76 years.
“The liberal rules-based order is under severe strain,” said Anna Borshchevskaya, a senior fellow at the Washington Institute for Near East Policy. “Putin has an alternative vision of a multipolar world divided into great powers. And these great powers have a privileged sphere of influence where they can act with impunity.”
That impunity was brought to life when Trump in February held the first public phone call by a US president with Putin — who remains under an arrest warrant issued by the International Criminal Court for alleged war crimes in Ukraine — since the Feb. 2022 invasion. Days later, top US and Kremlin officials held discussions in Saudi Arabia aimed at restoring diplomatic relations.
Russian and US officials at a meeting in Riyadh, on Feb. 18.Source: Russian Foreign Ministry/Anadolu/Getty Images
Russia has changed markedly since Putin ordered the full-scale invasion that has left an estimated 1.2 million people dead and wounded on both sides. Massive state spending on the military and defense production has created a war economy as Russian expectations of victory within days gave way to the reality of Ukrainian resistance backed by billions of dollars in weapons from the US and its allies in NATO. Moscow intends to increase defense spending to 13.2 trillion rubles ($148 billion) this year, putting it at 6.2% of gross domestic product. The government expects spending on defense and domestic security to account for about 40% of total budget expenditure in 2025.
Read More: Consumer Firms With Foot in Russia First Movers Back If War Ends
Moscow imposed harsh terms on Western multinationals that fled after the war began, forcing them to accept stringent haircuts on the value of assets or seizing local subsidiaries before authorizing their sale to Kremlin-approved buyers, often with links to allies of Putin. And it may set conditions on companies seeking to return, according to a person close to the government and a tycoon with links to Putin. A state commission set up to allow the wartime exit of foreign companies from Russia may now be used to approve their return on a selective basis, according to economic need, the scale of investment and the manner in which they left the country in the first place, the person close to the government said.
“It will be as hard for them to return as it was for them to leave,” said Igor Yurgens, a board member of the Russian Union of Industrialists and Entrepreneurs that represents major businesses, and a former adviser to Dmitry Medvedev when he was president from 2008-2012. “There’ll be tough conditions on localization and most importantly technology” transfers to modernize production, he said.
Read More: Putin Envoy Dangles Business Ties to Lure US to Ukraine Deal
“It will take time, but step by step, positive economic cooperation across various sectors will resume,” Kirill Dmitriev, the head of Russia’s sovereign wealth fund and Putin’s special envoy for international economic ties, said on the social media platform X. He’s been tasked by Putin with promoting joint projects with the US as part of Russian efforts to secure favorable terms with Trump in a deal to end the war.
A rare earth minerals site in the Zhytomyr region of Ukraine, on Feb. 25.Photographer: Kostiantyn Liberov/Libkos/Getty Images
US and Russian officials are already discussing potential economic cooperation in the Arctic, including the exploration of natural resources and trade routes. Dmitriev floated the idea of a joint US-Russia mission to Mars together with Saudi Arabia, and Putin offered to work with “our American partners” to mine Russia’s rare earth metals, saying it has “an order of magnitude more resources of this kind than Ukraine.”
Trump told reporters he’d “like to buy minerals on Russian land” even as he’s dangling the prospect of an agreement with President Volodymyr Zelenskiy to exploit Ukraine’s natural resources. “It’s a great thing if we settle — it’s great for Russia too, because we can do deals there,” he added.
Putin has made clear to the tycoons that he won’t lobby on their behalf to get individual sanctions removed, according to two people with knowledge of the situation. It may even suit him for the restrictions to remain so that billionaires are forced to invest at home, one of the people added.
Yet the West never succeeded in completely isolating the Russian economy, which was able to expand into new markets. Many commodities companies, including in metals, fertilizers and agricultural products, avoided sanctions amid fears of disrupting the global economy. And Moscow undermined a $60 price cap on oil imposed by the G-7 by delivering crude using a shadow fleet of tankers. In a sign that the sanctions regime on oil exports might already be fraying, crude flows from all Russian ports in the four weeks to March 9 jumped by about 300,000 barrels a day — the biggest gain since January 2023.
The United Co. Rusal aluminum smelter in Sayanogorsk. Some Russian commodities groups are worried about overdependence on contracts from China.Source: Bloomberg
When the EU slammed the door on €258 billion of trade as Russia’s biggest pre-war market, rupturing energy imports including gas that met almost 40% of the bloc’s demand in 2021, the Kremlin faced east.
China provided an economic lifeline to Russia as bilateral trade surged, weakening the impact of sanctions. Russia-China trade has jumped by about two-thirds since 2021 to a record $244.8 billion in 2024, customs data in Beijing show. Chinese brands including carmakers replaced foreign multinationals in Russia that scrambled for the exit. Everything from Apple iPhones to luxury Bentley cars also continued to be sold in Russia after the government authorized so-called parallel imports.
A China-Europe freight train departs for Moscow from a logistics hub in Beijing, in July 2024.Photographer: Zhao Xu Xinhua/eyevine/Redux
Some Russian commodities groups are now worried about overdependence on China and would sell to the US if they had access, according to two top managers in metals holdings. But even if the European market — previously the biggest buyer of Russian metals — reopened, China and other Asian clients have become too important to drop, the people say, asking not to be identified discussing customer issues.
Any possible lifting of sanctions could potentially drive a further wedge between the approaches of the EU and Washington.
Trump has the power to lift US penalties on Russia through executive action. He can simply sign orders to remove penalties on companies and individuals, including Putin, while the EU has to negotiate such decisions among its 27 member states, and may be less open to such moves. But Trump doesn’t have an entirely free hand. Any shift to remove some of the measures imposed by the outgoing Biden administration — including sanctions on Gazprom and a second energy company Surgutneftegas — would trigger a 30-day review period and possible vote in Congress.
Trump could also withdraw from multilateral sanctions on Russia imposed by the US together with its allies. That would weaken enforcement and lead to confusion for businesses navigating a patchwork of restrictions, particularly if the UK and the EU measures remained in place.
“Sanctions may not be lifted right away, but their spirit will fade,” said Boris Titov, Putin’s former business ombudsman and now the special Kremlin representative to international organizations on sustainable development.
It won’t be easy to turn Russia’s war economy back toward “things that are priorities for western investors,” said Emily Ferris, a senior research fellow in the International Security Studies department at the Royal United Services Institute in London. “How could a Western investor not be sure that its investment might be used for either the war which is still not finished, or for Russian military rearmament?”
1. Commercianti londinesi cercano freneticamente obbligazioni russe, in particolare quelle di Gazprom, per soddisfare la domanda di family office mediorientali.
2. La scarsa offerta e la crescente domanda hanno fatto diminuire i rendimenti dei bond russi in dollari ed euro di circa cinque punti percentuali a febbraio.
3. Gli investitori scommettono sul fatto che le aperture di Trump verso Mosca si tradurranno nel ritorno della Russia ai mercati finanziari globali, con conseguente aumento del valore dei titoli scontati.
4. Anche gestori patrimoniali stanno valutando investimenti sul rublo tramite contratti forward non consegnabili, non soggetti a sanzioni.
5. Banche come Goldman Sachs e JPMorgan facilitano la crescente domanda di attività legate alla Russia.
6. La scommessa comporta rischi reputazionali e legali, a seconda dell'evoluzione della situazione geopolitica e delle sanzioni.
7. Le mosse per tornare a investire in Russia avvengono in un contesto politico volatile, con Trump che ha ridefinito le relazioni tra Stati Uniti, Ucraina e Russia.
8. Il Cremlino desidera soprattutto la revoca di alcune restrizioni bancarie statunitensi per agevolare i pagamenti transfrontalieri.
9. Il ritorno degli investimenti occidentali in Russia sarà difficile, con condizioni severe imposte dal governo russo sulle aziende che cercano di rientrare.
10. Rimangono enormi ostacoli, tra cui le sanzioni, la guerra in Ucraina e le divergenze tra Stati Uniti ed Europa.
bloomberg.com
War in Ukraine: Investors Bet Russia Is Coming Back to Global Financial Markets
By Bloomberg News12 marzo 2025 at 22:01 CETBookmarkSaveTranslate
13-17 minuti
Traders at one London brokerage have been scouring the financial world in recent weeks for an asset almost untouchable for the past three years: Russian debt. They have been racing to find owners of dollar-denominated bonds issued by Gazprom to meet demand from Middle Eastern family offices.
They quickly found the Russian energy behemoth’s bondholders were either unwilling to sell or demanding significantly higher prices, according to two traders who spoke on condition that neither they nor the firm were identified because of the sensitivity of the transactions. This combination of limited supply and growing demand helped to drive down yields on dollar and euro-denominated Russian bonds by about five percentage points in February, one of the traders estimated.
Follow The Big Take daily podcast wherever you listen.
The transactions — revealed here for the first time — are among the clearest indications yet that investors are quietly betting that US President Donald Trump’s overtures to Moscow for a deal to end the war in Ukraine will eventually translate into Russia’s return to the global financial markets. The buyers are wagering that the deeply discounted securities could soar in value if the sanctions imposed on Russia after its invasion of Ukraine in 2022 are lifted.
Investors “understand that as soon as there’s a thaw, these discounts will collapse,” said Iskander Lutsko, Dubai-based head of research and portfolio management at Istar Capital, an investment firm and wealth manager with about $1 billion under management.
Money managers, too, say they are receiving approaches from Wall Street sales teams gauging their interest in making bets on the ruble through non-deliverable forwards — derivatives that because they don’t involve a physical Russian asset or individual person aren’t subject to sanctions. The Russian currency has gained 13 percent against the dollar since the start of the year, according to Bank of Russia data.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. are among banks that have been acting as brokers to facilitate growing investor demand for ways to trade Russian-related assets, people familiar with the matter said.
“There’s an aggressive search for securities of Russian issuers around the world,” said Evgeny Kogan, a Moscow-based investment banker who runs his own advisory firm. “Investors in general are asking how quickly they can enter the Russian market.”
In this pool photograph distributed by Russian state agency Sputnik, President Vladimir Putin arrives for his inauguration ceremony at the Kremlin in Moscow, on May 7, 2024.Photographer: Sergei Bobylov/Sputnik/AFP/Getty Images
Both sides of the bet represent a massive geopolitical gamble. At stake in the rehabilitation of Russia are hundreds of billions of dollars in trade and investment opportunities through the easing or removal of sanctions by the US and its Group of Seven allies. President Vladimir Putin’s attempts to lure Trump with potential joint US-Russia projects are only adding to the fervor.
But these wagers come with multiple risks — reputational if an investor or company moves too early to restore ties with a country responsible for Europe's largest conflict since the Second World War; and legal, if sanctions aren’t lifted or are later re-imposed. On March 7, Trump warned he was “strongly considering” fresh banking sanctions on Russia while still preparing to negotiate to end the conflict.
Read More: Putin Likely to Drag Out Ukraine Truce Talks to Seek Terms
US envoy Steve Witkoff is expected in Moscow this week for discussions over a proposed 30-day truce. But even if Trump succeeds in halting the fighting now, there will remain an unstable, heavily-armed frontline and an ever-present risk of the war reigniting if Putin sees a chance to subjugate all of Ukraine or Kyiv attempts to take back territory left under Russian occupation. Europe is ramping up plans for as much as €800 billion ($870 billion) in additional defense spending for this new era of insecurity.
Military recruitment posters in Moscow. Massive state spending on defense production has created a war economy.Photographer: Nanna Heitmann/The New York Times/Redux
Enormous Hurdles
These tentative moves back into Russian trades come against a volatile political backdrop. Since taking office in January pledging to quickly end the war that Putin started, Trump has turned US relations with Ukraine and Russia on their head — to the delight of Moscow and the horror of Kyiv and its European allies.The Kremlin was surprised at the intensity of Trump’s engagement with Putin, according to a person with knowledge of the matter. What Moscow most needs is for the US to lift at least some bank restrictions to ease trading in dollars, the person said, asking not to be identified discussing internal issues. That would help overcome growing cross-border payments difficulties for Russian businesses.
Enormous hurdles stand in the way of Russia coming in from the cold. Three years of war unraveled three decades of deepening Western involvement after the Soviet Union’s collapse, that radically reshaped Russia’s economy and outlook. A widening divide between the US and Europe over Ukraine’s defense — a byproduct of the rapprochement between Trump and Putin — threatens the most serious breakdown in relations since World War II. It may even presage a fundamental realignment of global power as Trump reaches out to Putin and Chinese President Xi Jinping, potentially threatening the NATO alliance that’s been the cornerstone of Western defense for 76 years.
“The liberal rules-based order is under severe strain,” said Anna Borshchevskaya, a senior fellow at the Washington Institute for Near East Policy. “Putin has an alternative vision of a multipolar world divided into great powers. And these great powers have a privileged sphere of influence where they can act with impunity.”
That impunity was brought to life when Trump in February held the first public phone call by a US president with Putin — who remains under an arrest warrant issued by the International Criminal Court for alleged war crimes in Ukraine — since the Feb. 2022 invasion. Days later, top US and Kremlin officials held discussions in Saudi Arabia aimed at restoring diplomatic relations.
Russian and US officials at a meeting in Riyadh, on Feb. 18.Source: Russian Foreign Ministry/Anadolu/Getty Images
Russia has changed markedly since Putin ordered the full-scale invasion that has left an estimated 1.2 million people dead and wounded on both sides. Massive state spending on the military and defense production has created a war economy as Russian expectations of victory within days gave way to the reality of Ukrainian resistance backed by billions of dollars in weapons from the US and its allies in NATO. Moscow intends to increase defense spending to 13.2 trillion rubles ($148 billion) this year, putting it at 6.2% of gross domestic product. The government expects spending on defense and domestic security to account for about 40% of total budget expenditure in 2025.
Harder to Get Back in Than it Was to Leave
Despite that enormous spend, years of Kremlin rhetoric condemning the US and European states as “unfriendly” and “toxic” means that Russia may still not be in any hurry to roll out the welcome mat for foreign direct investment, according to people close to the government.Read More: Consumer Firms With Foot in Russia First Movers Back If War Ends
Moscow imposed harsh terms on Western multinationals that fled after the war began, forcing them to accept stringent haircuts on the value of assets or seizing local subsidiaries before authorizing their sale to Kremlin-approved buyers, often with links to allies of Putin. And it may set conditions on companies seeking to return, according to a person close to the government and a tycoon with links to Putin. A state commission set up to allow the wartime exit of foreign companies from Russia may now be used to approve their return on a selective basis, according to economic need, the scale of investment and the manner in which they left the country in the first place, the person close to the government said.
“It will be as hard for them to return as it was for them to leave,” said Igor Yurgens, a board member of the Russian Union of Industrialists and Entrepreneurs that represents major businesses, and a former adviser to Dmitry Medvedev when he was president from 2008-2012. “There’ll be tough conditions on localization and most importantly technology” transfers to modernize production, he said.
Read More: Putin Envoy Dangles Business Ties to Lure US to Ukraine Deal
“It will take time, but step by step, positive economic cooperation across various sectors will resume,” Kirill Dmitriev, the head of Russia’s sovereign wealth fund and Putin’s special envoy for international economic ties, said on the social media platform X. He’s been tasked by Putin with promoting joint projects with the US as part of Russian efforts to secure favorable terms with Trump in a deal to end the war.
A rare earth minerals site in the Zhytomyr region of Ukraine, on Feb. 25.Photographer: Kostiantyn Liberov/Libkos/Getty Images
US and Russian officials are already discussing potential economic cooperation in the Arctic, including the exploration of natural resources and trade routes. Dmitriev floated the idea of a joint US-Russia mission to Mars together with Saudi Arabia, and Putin offered to work with “our American partners” to mine Russia’s rare earth metals, saying it has “an order of magnitude more resources of this kind than Ukraine.”
Trump told reporters he’d “like to buy minerals on Russian land” even as he’s dangling the prospect of an agreement with President Volodymyr Zelenskiy to exploit Ukraine’s natural resources. “It’s a great thing if we settle — it’s great for Russia too, because we can do deals there,” he added.
Frozen Assets
For now, thousands of companies, state bodies, tycoons and political figures including Putin and most of his top officials remain under sanctions imposed by the US and its allies since the start of the invasion. About $300 billion of Russian central bank assets, mostly in Europe, have been frozen by the US, the European Union, and other G-7 allies. Sanctions on wealthy Russians froze an additional $58 billion in assets, including homes, yachts and private aircraft, according to US Treasury estimates.Putin has made clear to the tycoons that he won’t lobby on their behalf to get individual sanctions removed, according to two people with knowledge of the situation. It may even suit him for the restrictions to remain so that billionaires are forced to invest at home, one of the people added.
Yet the West never succeeded in completely isolating the Russian economy, which was able to expand into new markets. Many commodities companies, including in metals, fertilizers and agricultural products, avoided sanctions amid fears of disrupting the global economy. And Moscow undermined a $60 price cap on oil imposed by the G-7 by delivering crude using a shadow fleet of tankers. In a sign that the sanctions regime on oil exports might already be fraying, crude flows from all Russian ports in the four weeks to March 9 jumped by about 300,000 barrels a day — the biggest gain since January 2023.
The United Co. Rusal aluminum smelter in Sayanogorsk. Some Russian commodities groups are worried about overdependence on contracts from China.Source: Bloomberg
When the EU slammed the door on €258 billion of trade as Russia’s biggest pre-war market, rupturing energy imports including gas that met almost 40% of the bloc’s demand in 2021, the Kremlin faced east.
China provided an economic lifeline to Russia as bilateral trade surged, weakening the impact of sanctions. Russia-China trade has jumped by about two-thirds since 2021 to a record $244.8 billion in 2024, customs data in Beijing show. Chinese brands including carmakers replaced foreign multinationals in Russia that scrambled for the exit. Everything from Apple iPhones to luxury Bentley cars also continued to be sold in Russia after the government authorized so-called parallel imports.
A China-Europe freight train departs for Moscow from a logistics hub in Beijing, in July 2024.Photographer: Zhao Xu Xinhua/eyevine/Redux
Some Russian commodities groups are now worried about overdependence on China and would sell to the US if they had access, according to two top managers in metals holdings. But even if the European market — previously the biggest buyer of Russian metals — reopened, China and other Asian clients have become too important to drop, the people say, asking not to be identified discussing customer issues.
Any possible lifting of sanctions could potentially drive a further wedge between the approaches of the EU and Washington.
Trump has the power to lift US penalties on Russia through executive action. He can simply sign orders to remove penalties on companies and individuals, including Putin, while the EU has to negotiate such decisions among its 27 member states, and may be less open to such moves. But Trump doesn’t have an entirely free hand. Any shift to remove some of the measures imposed by the outgoing Biden administration — including sanctions on Gazprom and a second energy company Surgutneftegas — would trigger a 30-day review period and possible vote in Congress.
Trump could also withdraw from multilateral sanctions on Russia imposed by the US together with its allies. That would weaken enforcement and lead to confusion for businesses navigating a patchwork of restrictions, particularly if the UK and the EU measures remained in place.
“Sanctions may not be lifted right away, but their spirit will fade,” said Boris Titov, Putin’s former business ombudsman and now the special Kremlin representative to international organizations on sustainable development.
It won’t be easy to turn Russia’s war economy back toward “things that are priorities for western investors,” said Emily Ferris, a senior research fellow in the International Security Studies department at the Royal United Services Institute in London. “How could a Western investor not be sure that its investment might be used for either the war which is still not finished, or for Russian military rearmament?”
m.m.f
Forumer storico
...in effetti gli USA probabile tolgano le sanzioni e,riabiliteranno lo swift.
Ma,se l'europa cosa probabile visto l'atteggiamento non seguono nulla cambia.
Euroclrar e Clearstream europee sono.
Ricordo che l'europa va avanti a confermare le sanzioni ,dal 2014 .Dal 2022 ne ha aggiunte altre.
Diadora
Forumer attivo
Purtroppo allora, perlomeno finché ci saranno questi due regimi, Putin e Von der Leyen, nulla cambierà. E i nostri capitali che avevamo inopinatamente prestato alla Federazione Russa? A chi andranno alla scadenza? Resteranno congelati in qualche depositario? Cosi, tanto per sapere ...
m.m.f
Forumer storico
...personalmente ritengo che,la Fedeeazione Russa tornera' sui mercati.
Non penso a una Federazione Russa estromessa a vita.
La domanda e' quando...1 anno? 5? 10?
Granozzo
Forumer attivo
e poi la Russia è andata avanti a pagare, solo che l'Europa ci ha rubato il denaro.
m.m.f
Forumer storico
...chi vivrà,se vivrà abbastanza vedrà....si dice così.
angy2008
Forumer storico
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