The real reason the US is tough on Gazprombank; Switzerland "joins in"; Slovakia, Hungary are doing this

Recently, Mr. Douglas Jacobson, a trade lawyer in Washington, said that Gazprombank has been in the sights of the administration of US President Joe Biden for many years.

The reason why the US government sanctioned Gazprombank. (Source: Pravda)

However, Gazprombank is seen as the ultimate target of sanctions as Washington has to focus on the energy sector and wants to avoid side effects on Europe.

“The current US administration is trying to exert pressure and impose as many sanctions as possible before January 20, 2025, to make it difficult for the next administration to reverse,” attorney Jacobson analyzed.

President-elect Donald Trump will have the power to lift the sanctions - which were imposed under an executive order by his predecessor Biden - if he wants to take a different stance.

After the Ukraine conflict broke out, the US Treasury Department imposed debt and equity restrictions on 13 Russian companies, including Gazprombank, Sberbank and the Russian Agricultural Bank.

The world's largest economy uses profits from frozen Moscow assets to finance Kiev.

* In a related development, officials in Slovakia and Hungary confirmed they are studying the impact of the latest US sanctions.

Under the 15-year deal signed in 2021, Hungary receives 4.5 billion ^cubic meters (bcm) of gas per year from Russia supplied by Gazprom.

Meanwhile, Slovakia's state gas buyer SPP has a long-term contract with Gazprom and continues to buy gas from Moscow.

* Also related to sanctions, on November 21, the head of the State Secretariat for Economic Affairs (SECO) Helene Budliger Artieda of Switzerland announced that the country will maintain sanctions against Russia, even if the upcoming US administration of Donald Trump lifts them.

In the announcement, Ms. Budliger Artieda affirmed: “Switzerland does not impose sanctions on any country independently. We only participate in sanctions applied by the United Nations or the European Union (EU) in each case.

If the new Trump administration lifts sanctions against Russia, this decision will not affect the sanctions imposed by Switzerland.”

Source: https://baoquocte.vn/trung-phat-nga-ly-do-thuc-su-my-manh-tay-voi-gazprombank-thuy-sy-nhap-cuoc-slovakia-hungary-dang-lam-dieu-nay-294660.html