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Russia reacts to JPMorgan Chase blocking diplomatic transfer on ‘sanctions’ pretense

Published time: April 01, 2014 21:21
AFP Photo / Timothy A. Clary

AFP Photo / Timothy A. Clary

The Russian Foreign Ministry has sharply reacted to the “illegal and absurd” blocking of a Russian diplomatic transaction by US bank JPMorgan Chase due to “sanctions.” Moscow warned that such moves might backfire for the US diplomatic mission in Russia.

JPMorgan Chase blocked a money transfer on behalf of the Russian Embassy in Kazakhstan to insurance company SOGAZ, Russian Foreign Ministry spokesman Aleksandr Lukashevich said in a Tuesday statement. The bank cited sanctions imposed by the US government against some Russian politicians and companies in connection with the situation in Ukraine, he said.

Lukashevich condemned the move as an “absolutely unacceptable, illegal and absurd decision,” saying that the sanctions were merely a “pretense.”

“If by this the American financial company wanted to 'score points' in the eyes of the White House, it has obviously overplayed. Washington has to understand: any hostile action towards the Russian diplomatic mission not only represents a breach of the international law, but is also fraught with counter measures, which will inevitably affect the work of the US Embassy and consulates-general in Russia,” Lukashevich stressed.

Thus, instead of flattering Washington, the bank did the Obama administration a “disservice,” the ministry official said.

Although SOGAZ was not mentioned in Washington’s sanctions against Russia, 51 percent of its shares used to be controlled by Rossiya Bank, owned by Russian businessman Yury Kovalchuk, who was included on the list. However, on March 11, SOGAZ regained its controlling stake after buying shares from the bank’s subsidiary, Abros.

Comments (40)


freeworldlogictwo 02.04.2014 13:25

It's only just beginning...
Wha t was Russia expecting? A pat on the back and a thumbs up?

There will be more similar sanctions if Russia continues on a territorial expansion agenda and it will carry on for years and years.

Russ ia can make short term moves in almost any direction, but the medium and long term belongs to the West and their financial markets which are stable, transparent and rules by law that dominates world finance.

If Russia wants to be an empire, Russia should be ready to be cut out of the system - just like the Soviet Union during the Cold War.


DoAskDoTell 02.04.2014 13:13

PRINTING "toilet paper dollars" AND then ARGUING about IT
=> creating Wealth ("opinion as worth" by bankers)
=> MIS-pricing of Industry (see bailouts/subsidies)
=> Mis-pricing of Everything (see your wage, edu.)
=> WASTES E-con-omy is cannibalizing our planet (war cannibalized itself) (Negative Energy Returns)

Ne xt, your bank accts have 'reforms', 'hair cuts'?

IMF/ Monopoly Multinationals/ Nato/ Nsa/ Fed cartels are ALL *Too Big Too Unstable Too Insane... To Survive*. Let mabsters of *take, plunder, take* RIP.


Peter Anderson 02.04.2014 12:37

Time to bring the whole rotten system down. Government debt enslaves nations. How can it be moraly justified that poor people are going hungry and taxes are being used to pay the interest on debt.

The people never created the debt but we are forced to pay it.

This system makes war profitable to money lenders, the deeper nations are in debt the more power the money lenders have.

They have created a financial monopoly over all key areas of our lives. The corperations are pushing cultural socialist policies on us without any authority. Universities are controlled by the same people.

Gov ernment debt should be outlawed

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