By using American banks as a fraud against Russia, Joe Biden has demonstrated his willingness to use US currency against the enemy, continuing a process that was achieved during the Obama era and suffered under Donald Trump.
Biden’s election this week at ban U.S. financial institutions in purchasing a new Russian loan as a punishment for their online fraud and other wrongdoing provided preliminary insight into the President’s views on sanctions. This has led to new concerns about their overuse.
“U.S. financial institutions are becoming guns,” the bank’s attorney general told the Financial Times, referring to the use of sanctions as foreign weapons. Experts this week say the U.S. government is “outsourcing US services” to U.S. banks or using them as “advancement” – a military term for setting up arms across their homes.
Trump’s appointment of thousands made him a foreign weapon in the war against Iran, Syria, Venezuela, North Korea and China – as well as pressure from Congress to pressure Russia again. Officials in Biden say they are developing more economic weapons, working with their colleagues and abstaining from sanctions.
Two White House experts say Russia’s debt restructuring issue was not initially mentioned as part of the US-Moscow anti-corruption package, but that there was pressure from government officials to come up with an unimaginable strong response, in one person’s words. , as “toothless”. Biden in particular was forced to respond strongly, all said.
An employee at the National Security Council said supervisors wanted to take enough time to come up with the right solution and challenged the accuracy of the concerns by appearing “toothless”.
The chief executive told the Financial Times that the Biden group was looking into the “power” of other weapons to impose sanctions other than sanctions, such as taxes, money laundering and outsourcing. They also consider incentives such as bilateral assistance, international support and debt relief.
“There are many in the White House who have given serious thought to the financial system,” he said.
At stake, obviously, is Andrea Kendall-Taylor, who was elected director of NSC Russia Biden before he turned his back on the United States, and is the US dollar and America’s undisputed leader in global financial companies, relying on New York as a global financial purifier. the earth.
Defendants can protect themselves by turning to US banks and moving to places other than the dollar, which in the event of a mass collapse could weaken the US dollar as a starting point.
“The risks are real, and I think that’s something the United States needs to be aware of and be careful about when using sanctions if possible,” he said.
“We see Russia and China really working together to reduce the stability of the United States in the global economic system, and in the long run this threatens to undermine the ability to use our weapons under duress,” he said.
Last month, Russian Foreign Minister Sergei Lavrov reiterated their calls to Moscow and Beijing to reduce reliance on US currency and western payment methods to China.
China’s largest bank this year expanded its digital flight operations to monitor border operations. Explosion money supply is another competitor.
The chief executive said Biden’s party had completely transformed Russia in line with the “established approach”, defending its efforts to establish a “real” one. they are fighting money and avoid repaying the dollar.
“We wanted the package to be responsible for reducing U.S. non-alignment and the global economic system,” he said, adding that the popularity of the dollar “was very important to us.”
“It’s in the best interests of our country because of the money that it provides, it makes us aware of the surprises… And it gives us the power to be politically active,” he said.
Others in the Biden group who were previously concerned about overuse have been comfortable with it, including deputy national security adviser Daleep Singh.
He told Congress in 2019 that he was “cautious” about what he could do to avoid Russia’s debt as a U.S. finance minister in 2014 because of the “unintended consequences” but changed his mind, saying Russia had managed to address the visibility of those with less money.
Mr. Peter Harrell, CEO of global finance and competition at BidC in Biden, he wrote in 2018 that the use of sanctions “exploded” over the past 10 years and became “a place of disunity among bipartisan in Washington”.
The Biden government has never fulfilled its two-pronged approach – publishing from time to time the analysis of US programs or for the US president to explain, first and foremost, the clear principles of use.
But it is looking for a way to work with other countries – some of Harrell’s ideas – in stark contrast to the unilateralism of the Trump era that in 2018 prompted the European Union to enact legislation to block Washington’s sanctions on Iran.
The Biden government has set up terrorists who have been smuggled into Myanmar and Russia, although this week against Russia’s debt consolidation. The official said the package was “carefully modified to improve access to collaboration.”
“Often we have to take the initiative and then we have done well to bring in our friends and colleagues over time, and here we hope to have a similar goal,” he said.
Meanwhile, banking experts say the risk of dollar growth is still far away, and that US sanctions are still in place, especially because non-US banks tend to pursue them because of market connections and the risk of sanctions. Biden officials have set aside a second-hand market by the U.S. public for testing this week and included a break.
Rachel Ziemba, an economics expert on coercion, was one of those who did not see the recent developments as a “real threat” to the US dollar, adding that the closed epidemics saw people gaining additional incentives for the dollar.