US Treasury withdraws pension payments to Americans from anti-Russian sanctions US

Treasuryissued a general license in which he withdrew pension payments to Americans from anti-Russian sanctions. According to the FIU for 2020, about 21,000 people received Russian pensions in the United States.

The US Treasury Department withdrew transactions related to the payment of pensions to Americans from anti-Russian sanctions, according to general license No. 38, published on the website of the department.

The document states that from June 2, "all transactions that are performed in the usual manner and are necessary for the processing of pension payments to persons from the United States and which were prohibited" are allowed by the relevant decree of President Joe Biden.

At the same time, the general license prohibits: opening or maintaining a correspondent or current account on behalf of any organization subject to restrictions, any debiting of funds from the accounts of the Bank of RUSSIA, the National Welfare Fund or the Russian Ministry of Finance, as well as transactions involving any person subject to US sanctions.

According to the Pension Fund for 2020, more than 342,000 people receive Russian pensions abroad, including 21,000 people in the United States.

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After the start of the Russian military operation in Ukraine, many foreign countries, including the United States, imposed sanctions on Moscow that affected the banking sector, large industrial companies, the military-industrial complex, businessmen and the political elite.

In addition, the US Treasury has banned transactions with the Central Bank, the NWF and the Russian Ministry of Finance, and also froze part of Russia's international reserves. As of April 1, 2022, Russia's international reserves amounted to $606.5 billion. The Ministry of Finance previously reported that Western countries froze about half of Russia's gold and foreign exchange reserves (about $300 billion) after the imposition of sanctions.

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The HEAD of the Central Bank, Elvira Nabiullina, then said that the Russian side would challenge the freezing of gold and foreign exchange reserves and was already preparing lawsuits.

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In connection with the freezing of reserves, Russia has problems with servicing its external debt obligations. In addition, in May, the US Treasury did not renew a license that allowed holders of Russian sovereign bonds denominated in dollars to receive payments to redeem the securities.

After that, the head of the Russian Ministry of Finance, Anton Siluanov, proposed using the gas payment scheme for Eurobond settlements. According to this scheme, the investor will have to open two accounts in a Russian bank: one in foreign currency and one in rubles, and issue instructions for the sale of foreign currency in order to receive a ruble payment.

In total, almost 7.8 thousand restrictive measures have been introduced against Russia since February 22, RBC calculated. By May 23, the total number of sanctions against the country reached 10.5 thousand. According to this indicator, Russia ranks first in the world. For comparison, 3.6 thousand sanctions have been introduced against Iran.

 

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