Biden Promotes De-Escalation, Sanctions Not the "Nuclear Option", Can be Circumvented

LOCAL NEWS

• Biden: Characterises recent conversations with Putin as candid and respectful. Says US is trying to build constructive dialogue with Russia and "now is the time to de-escalate".
  • "where there's an interest to work with Russia, we should, and we will. Where Russia seeks to violate US interests, we will respond"
• Biden: US studying option of Nord Stream 2 Sanctions, but says it's a difficult issue as it affects Western partners' interests
• Local Analyst says Russian sanctions-proofing measures will temper the effects of the most substantial US sanctions since 2018.
  • Notes sanctioned individuals are unlikely to have any significant assets vulnerable to US freezes, and OFZ options fall short of the "nuclear option" of a complete ban on Western financial outfits having anything to do with Russian State Debt.
  • Oligarchs were also excluded from measures. The fact that US sanctions only target new issuance and focuses on a narrow definition of sovereign debt – ignoring state owned entities and only covering primary issues limits the negative impact as some factors can be circumvented through the secondary market
• UK foreign office summons Russian Ambassador over alleged cyber-attacks, interference in democratic processes and Military aggression vs Crimea.
  • Russia responded to UK's attempts to "play along with the US" saying accusations are unfounded
• Poland declares three Russian diplomats personae non-grata for violating conditions of diplomatic status as well as alleged actions to harm the Republic of Poland - TASS