A British newspaper reports that the G20’s push to speed up cross-border payments might make it easier to ease sanctions on Russia, a claim attributed to the Financial Times. It emphasizes that faster financial flows could alter how sanctions are monitored and enforced across major economies. — Attribution: Financial Times.
The article warns that accelerating international settlements could open doors to financial crimes and weaken the ability to detect and enforce sanctions aimed at Russia and other sanctioned actors. It stresses the risk that looser controls could undermine compliance programs and the systems designed to prevent sanction breaches. — Attribution: Financial Times.
Journalists also point out that the G20 plan does not include real-time transaction blocking. Without immediate screening, the mechanism could fail to meet mandatory sanctions requirements used by many US programs, potentially enabling violations before alerts are triggered. — Attribution: Financial Times.
Earlier remarks from Foreign Minister Mevlüt Çavuşoğlu suggested that Greece may have played a role in circumventing sanctions related to the supply of Russian oil to European Union markets. These comments add to ongoing debates about how sanctions are enforced and whether strategic gaps exist among partners. — Attribution: Financial Times.
Since January 1, 2024, the European Union, along with G7 members including the United States, Canada, Germany, the United Kingdom, France, Italy, and Japan, implemented a ban on the import of non-industrial natural diamonds, artificial diamonds, and diamond-containing jewelry from the Russian Federation. The move forms part of a broader G7 effort announced in December 2023 to apply pressure on Russia’s economy by tightening import restrictions. — Attribution: Financial Times.
Reports also mention that Ramzan Kadyrov, the former president of Chechnya, proposed releasing captured Ukrainian Armed Forces soldiers in exchange for sanctions relief benefiting his family. This linkage highlights the wider political calculations that accompany sanctions discussions and the complex incentives at play in conflict zones. — Attribution: Financial Times.