Translated by Ollie Richardson for Fort Russ
27th February, 2016
Russia has found a way to bypass Western sanctions. This was written by the German newspaper Die Welt, who wrote that the Kremlin wants to issue a loan of three billion dollars, with the received money from European and American banks being transferred to Russian enterprises that are under sanctions. If this plan works, the West will lose a lever of pressure on Russia, otherwise the awful failure of Moscow will be discussed throughout the whole world.
It was noted that the sanctions do not prohibit the banks from participating in auctions for the loans, since private enterprises fall under the ban, not state enterprises. According to Die Welt, “It would be a political fiasco for the EU and the US.” Western banks, helping to finance the Russian State would be “fatal signal,” according to the writer.
Despite all the warnings of Washington, foreign banks are seriously considering the Russian proposal because it opens up huge business opportunities.
However, Putin’s plan is not without risk, says the publication. If Western banks are not going to bite, the financial situation in the country will change for the worse, and Russia’s creditworthiness will fall, reports Russia Today.