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The US Treasury has published an explanation on how Russian banks that have been sanctioned can service oil and gas transactions in dollars. We are talking about the so-called U-shaped transactions.
As part of such transactions, payments pass through sanctions-free credit institutions in third countries , and from there go to the dollar accounts of Russian companies in sub-sanctioned banks.
The US financial department clarified that payments for Russian energy resources can be received on the exporter's account in a sub-sanctioned bank both from American customers and from buyers from other countries.
The license of the US agency allows such transactions for the purchase of oil, oil products, gas, coal, timber, biofuels and uranium from Russia. Transactions to import into Russia equipment for liquefying natural gas or oil production are also allowed, if such supplies are not limited by sectoral sanctions.
https://www.pravda.ru/economics/1688343-...yivariant/
As part of such transactions, payments pass through sanctions-free credit institutions in third countries , and from there go to the dollar accounts of Russian companies in sub-sanctioned banks.
The US financial department clarified that payments for Russian energy resources can be received on the exporter's account in a sub-sanctioned bank both from American customers and from buyers from other countries.
The license of the US agency allows such transactions for the purchase of oil, oil products, gas, coal, timber, biofuels and uranium from Russia. Transactions to import into Russia equipment for liquefying natural gas or oil production are also allowed, if such supplies are not limited by sectoral sanctions.
https://www.pravda.ru/economics/1688343-...yivariant/
