US to put pressure on countries, companies that haven’t yet imposed sanctions against Russia

The US administration will pressure more countries that haven’t signed up to the sanctions campaign to pare back their economic ties with Russia, Report informs referring to Bloomberg.

It will encompass US allies - Treasury officials have visited Türkiye and the United Arab Emirates in recent weeks - and adversaries, above all China, where some of the most difficult conversations will likely take place.

The outreach is expected to focus on individual companies, especially those that do business with the US. Elizabeth Rosenberg, assistant secretary at the Treasury, cites the “sophisticated” conversations she’s had in the past with Chinese entities about compliance with US penalties on Iran.

“Even where a political leader might be keen to, as a policy matter, try and find something that feels like a neutral or a balanced political stance, that’s not a thing for a bank or a company,” Rosenberg says. “The choice is much more clear-cut for private firms in these jurisdictions. And it’s part of our project to help clarify the choice.”

“We’re betting on the proposition that even an autocrat like Putin has a social contract with his people,” says Daleep Singh, who as deputy national security advisor was one of the principal architects of the central bank sanctions. “If all he’s producing is instability and insecurity, then ultimately it’s not in his self-interest to carry on with failure.”