Companies must choose between Russia and the West: US

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Wally Adeyemo, undersecretary of the Treasury Department in the United States, said that companies will have to choose between Russia and the West, that is, support the invasion of Ukraine or "continue doing business with the 30 countries" that have imposed sanctions. He also warned the Russian oligarchs that they are going to go after their resources. Since Vladimir Putin ordered his troops to attack, many companies have responded by closing their operations or withdrawing their services in the nation. Brands and authorities vs war Restrictions made by Western states have made trading difficult or impossible for some corporations, while others have decided to abandon Russian markets for moral reasons. However, some well-known brands, such as Marks & Spencer and Burger King, are still doing business and have no power to leave because they are run by franchisees. Adeyemo, who is leading the Biden administration's sanctions efforts, spoke to the BBC on a visit to Europe to coordinate the next phase of sanctions against Russia .


choose between russia and the west flag Asked about Chinese and Indian corporations filling the gaps left by Western companies in Russia, the politician assured that the United States would "take action" against anyone who helped evade sanctions. And he added: For these countries, for these companies, for these individuals, they have a choice to make. They can choose to help Russia support its illegal and illegitimate invasion of Ukraine, or they can continue doing Iran Phone Number List business with the 30 countries that have joined the actions against Russia. Wally Adeyemo, Undersecretary of the Treasury Department in the United States. He also pointed out that it was clear that the dollar, the euro and the pound sterling were the backbone of the global financial system and that anyone who wanted to work with these currencies had to "participate in our restrictions." You must choose between Russia and the West After an initial drop to historic lows—caused by the unprecedented sanctions on Russia's Central Bank, which limited President Putin's ability to use his vault of foreign exchange reserves to defend stability—the Russian currency has regained most of its their losses after the invasion.



However, flows of euros and sterling to finance purchases of Russian oil and gas have continued throughout the war, helping to shore up the ruble. Russia is the largest oil trading partner of the European Union (EU) and one of the largest exporters in the world. choose between russia and western ruble Although the United States and Canada have banned imports of Russian fuel, EU countries have not, as they rely heavily on it. Only the United Kingdom has stated that it plans to phase out Russian oil before the end of the year. The "War Chest" is not filling However, Adeyemo stated that the money Russia "is receiving today is no longer filling the War Chest ," which refers to cash reserves set aside or accumulated to take advantage of an unexpected opportunity. While this is typically used for company or business acquisitions, it can also be used as a buffer against adverse events during uncertain times. Companies must choose between Russia and the West: US They are using that money to buy rubles to shore up their economy. Wally Adeyemo, Undersecretary of the Treasury Department in the United States. The Russian government has ordered exporters to convert the foreign currency they receive into the local currency to support the economy. Adeyemo stated that.