How tough is Biden admin on Russia really?

Russia’s top state-controlled energy company is set to cash in on a $10 billion contract to build out one of Iran’s most contested nuclear sites as part of concessions granted in the soon-to-be-announced nuclear agreement that will guarantee sanctions on both countries are lifted. Russian and Iranian documents translated for the Washington Free Beacon show that Rosatom, Russia’s leading energy company, has a $10 billion contract with Iran’s atomic energy organization to expand Tehran’s Bushehr nuclear plant. Russia and the Biden administration confirmed on Tuesday that the new nuclear agreement includes carveouts that will waive sanctions on both countries so that Russia can make good on this contract. "We, of course, would not sanction Russian participation in nuclear projects that are part of resuming full implementation of the JCPOA," State Department spokesman Ned Price confirmed on Tuesday, referring to the original 2015 nuclear accord. Russia’s foreign ministry made a similar statement on Tuesday, saying that "additions were made to the text of the future agreement on JCPOA restoration to ensure that all the JCPOA-related projects, [especially] with Russian participation, as well as Bushehr [nuclear power plant], are protected from negative impact of anti-Russian restrictions" by the United States and European Union. The removal of these sanctions will provide Moscow’s Rosatom company with a critical source of revenue as American and European sanctions crush Russia’s economy in response to its unprovoked invasion of Ukraine. The concessions to Moscow have generated frustration on Capitol Hill, with top Republican leaders accusing the Biden administration of weakening penalties on Russia to secure an agreement with Iran. Moscow has served as the United States' top interlocutor in talks, even as the country’s war machine rolls across Ukraine. The Free Beacon first reported on Tuesday that a policy document circulating among lawmakers exposes how the new nuclear agreement will create a "sanctions evasion hub" for Russian president Vladimir Putin. "I am absolutely sincere in this regard. Iran got much more than it could expect," Ulyanov said. "Much more. … Realistically speaking, Iran got more than frankly I expected, others expected. This is a matter of fact." Noronha warned that the final agreement will help legitimize Moscow at a time when it should be isolated. "Providing Rosatom a guaranteed $10 billion lifeline right now is just another example of how this administration is undermining all its anti-Russia rhetoric with hidden technical concessions that keep Putin and his cronies’ companies afloat," Noronha said. "It’s got to stop.” https://freebeacon.com/national-security/new-iran-agreement-would-let-russia-cash-in-on-10-billion-contract-to-build-nuclear-sites/ ………… Mon, Mar 7 Oil major Shell has sought to defend its decision to buy a heavily-discounted consignment of oil from Russia, saying it would commit the profits to a fund dedicated to humanitarian aid for Ukraine. On Friday, Shell purchased 100,000 metric tons of flagship Urals crude from Russia. Shell has faced heavy criticism from Ukraine’s Foreign Minister Dmytro Kuleba: “One question to Shell: doesn’t Russian oil smell Ukrainian blood for you?” Kuleba said in a tweet Saturday. Shell said earlier this week that it intended to exit its joint ventures with Russian gas giant Gazprom and its related entities. Meanwhile, rival BP announced Sunday last week that it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company, potentially hitting the British oil major with a costly $25 billion charge. https://www.cnbc.com/2022/02/27/bp-offloads-stake-in-russias-rosneft.html and https://www.cnbc.com/2022/03/06/shell-defends-decision-to-buy-discounted-oil-from-russia.html ………. • March 08, 2022 Today, President Biden will sign an Executive Order (E.O.) to ban the import of Russian oil, liquefied natural gas, and coal to the United States – a significant action with widespread bipartisan support that will further deprive President Putin of the economic resources he uses to continue his needless war of choice. • The United States made this decision in close consultation with our Allies and partners around the world, as well as Members of Congress of both parties. The United States is able to take this step because of our strong domestic energy infrastructure and we recognize that not all of our Allies and partners are currently in a position to join us. But we are united with our Allies and partners in working together to reduce our collective dependence on Russian energy and keep the pressure mounting on Putin, while at the same taking active steps to limit impacts on global energy markets and protect our own economies. • This announcement builds on unprecedented economic costs the United States and our Allies and partners have imposed on Russia. As a result of our historic, multilateral coordination, Russia has become a global economic and financial pariah. Over 30 countries representing well over half the world’s economy have announced sanctions that impose immediate and severe economic costs on Russia, cut off access to high-tech technology, sap its growth potential, and weaken its military for years to come. The Russian ruble is now worth less than a penny and has hit an all-time low after losing almost half of its value since Putin announced his further invasion of Ukraine. By isolating Russia’s Central Bank and cutting off the largest Russian banks from the international financial system, we have disarmed his war chest of foreign reserves and left Putin to soften the blow of our sanctions. U.S. and allied export controls are impacting industrial production in Russia, Russian commercial aviation, and other key sectors of the Russian economy. The United States and governments all over the world are going after Putin’s cronies and their families by identifying and freezing the assets they hold in our respective jurisdictions – their yachts, luxury apartments, money, and oth er ill-gotten gains. • https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/08/fact-sheet-united-states-bans-imports-of-russian-oil-liquefied-natural-gas-and-coal/ • ………. • The U.S. Treasury Department clarified Friday afternoon that Wall Street’s traders and banks can continue to buy and sell Russian oil and gas. Treasury underscored in a post that the U.S. sanctions against Russia’s biggest banks — including VTB Bank — do not apply to energy transactions until June 24. • “In general, energy-related activities — including the purchase, sale or transport of Russian-origin oil, gas or other energy-related products by U.S. or non-U.S. persons — remain permissible,” Treasury said. The U.S. Treasury Department clarified Friday afternoon that Wall Street’s traders and banks can continue to buy and sell Russian oil and gas despite a raft of sanctions against Russia and its largest lenders. Treasury underscored in a post that the U.S. sanctions against Russia’s biggest banks — including VTB Bank — do not apply to energy transactions until June 24. The department also reassured investors that companies that transport Russian energy commodities for sale to the U.S. are also exempt from the penalties. • “The energy sector of the Russian Federation economy itself is not subject to comprehensive sanctions.” • Administration officials said the U.S. economy could likely withstand the impact of an outright ban on Russian crude imports if it works with its international partners. Russia is one of the globe’s largest energy exporters and its sales of energy to the U.S. are one of the remaining ways Moscow can access U.S. dollars while its own currency tumbles. “We’re in a very good position, and what we know from the U.S. economy is that we don’t import a lot of Russian oil,” said Cecilia Rouse, chair of the White House Council of Economic Advisers on Friday. “We are looking at options that we can take right now if we were to cut the U.S. consumption of Russian energy,” she said. “But what’s really most important is that we maintain a steady supply of global energy.” https://www.cnbc.com/2022/03/04/treasury-department-assures-wall-street-it-can-still-trade-russian-oil.html ………………… • https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-03-07/card/germany-says-it-won-t-stop-buying-russian-energy-despite-moscow-s-war-in-ukraine-1RLThH0sOukkiygAXV9x ………………… • Mar 7, 2022 Switzerland joined in sanctions, but Russia's oil, metals and grains still trade there. Renouncing Russian oil and gas would have serious consequences for the Swiss economy, an expert has told a Sunday newspaper. https://www.google.com/search?client=firefox-b-1-e&q=Switzerland+Russian+oil+gas ………. China Considers Buying Stakes in Russian Energy ...
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