The Secretary of the Treasury Jacob Lew, speaking at the budget hearings in Congress, said that Western sanctions cause Russia considerable harm. Also, the Finance Minister noted that the United States can “maintain unity among the European allies that the sanctions remain in force”.
He noted that the recommendation of the U.S. government to banks not to buy Russian Eurobonds essentially the same policy was part of a “very strong sanctions” imposed against Moscow in connection with the Ukrainian crisis.
“They are now trying very hard to raise financing through Eurobonds. And it is difficult for them to attract any financial institution to work with them, even though technically it is under sanctions not covered”, — reports the words of Liu RIA Novosti.
“We have developed these sanctions so as to minimize side effects and be targeted at the people standing closest to decisions. I think they’re very effective,” he said.
Jacob Lew added that the rapid fall in oil prices has many factors, damaging the Russian economy. “The Russian economy is now in much worse shape than if the sanctions were not, and because of this a lot in Russia wears out” – expressed confidence the Minister.Related posts: