As Russia leads revolt against US foreign policy and the USD , US and EU levy more sanctions against Russia ( July 16 , 2014 ) -- US Kicks The Growling Bear, Issues More Russian Sanctions; Restricts Debt Market Access ....... EU summit confirms sanctions expansion against Russia ....... ​Putin: US sanctions contradict its national interests, will backfire.....

http://www.zerohedge.com/news/2014-07-16/us-kicks-growling-bear-issues-more-rassian-sanctions-restricts-debt-market-access

US Kicks The Growling Bear, Issues More Russian Sanctions; Restricts Debt Market Access

Submitted by Tyler Durden on 07/16/2014 16:36 -0400

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Just as they promised (and acting unilaterally as Europe declined to go along with The White House), President Obama has unleashed a set of 'sectoral' sanctions to wreak havoc in Russia. The sanctions include the standard travel bans but adds rules that block several of Russia's largest firms from American debt markets. The plan - to restrict funding availability for Russian firms to under 90-days - is however, dead-on-arrival. As we explained here, Russian companies, facing $115 billion of debt due over the next 12 months, will have the funds even if bond markets shut as "the amount of cash on balance sheets of Russian companies, committed credit lines from banks and the operating cash flows they will get is sufficient for the companies to comfortably service their liabilities." This will do nothing but raise Putin's ire even more.

• U.S. OFFICIAL SAYS RUSSIA FAILING TO DE-ESCALATE IN UKRAINE

As NY Times reports,

President Obama escalated sanctions against Russia on Wednesday by targeting a series of large banks and energy and defense firms in what officials described as the most punishing measures to date for Moscow’s intervention in Ukraine.

While the latest moves do not cut off entire sectors of the Russian economy, as threatened in the past, the administration’s actions go significantly further than the financial and travel limits imposed so far on several dozen individuals and their businesses. The new measures will severely restrict access to American debt markets for the targeted companies.

The moves were coordinated with European leaders, who were meeting in Brussels on Wednesday to consider their own package of penalties against Russia. The Europeans declined to go as far as the United States, instead focusing on a plan to block loans for new projects in Russia by European investment and development banks.

The disparate approaches reflect the deeper divisions between Washington and Brussels over how tough to be with Russia.

Here is the full list of sanctioned entities:

Specially Designated Nationals List Update

In addition, the following individuals have been added to OFAC's SDN List:

• BESEDA, Sergey (a.k.a. BESEDA, Sergei; a.k.a. BESEDA, Sergei Orestovoch); DOB 1954; Commander of the Fifth Service of the FSB; Commander of the Service for Operational Information and International Communications of the FSB; FSB Colonel General; Colonel-General (individual) [UKRAINE2].
• BORODAI, Aleksandr (a.k.a. BORODAI, Alexander); DOB 25 Jul 1972; nationality Russia (individual) [UKRAINE].
• NEVEROV, Sergei Ivanovich (a.k.a. NEVEROV, Sergei; a.k.a. NEVEROV, Sergey); DOB 21 Dec 1961; POB Tashtagol, Russia; Deputy Chairman of the State Duma of the Russian Federation; Member of the State Duma Committee on Housing Policy and Housing and Communal Services (individual) [UKRAINE2].
• SAVELYEV, Oleg Genrikhovich; DOB 27 Oct 1965; POB St. Petersburg, Russia; Minister for Crimean Affairs (individual) [UKRAINE2].
• SHCHEGOLEV, Igor (a.k.a. SHCHYOGOLEV, Igor Olegovich); DOB 10 Nov 1965; POB Vinnitsa, Ukraine; alt. POB Vinnytsia, Ukraine; Aide to the President of the Russian Federation (individual) [UKRAINE2].

The following entities have been added to OFAC's SDN List:

• DONETSK PEOPLE'S REPUBLIC, Donetsk Region, Ukraine [UKRAINE].
• FEDERAL STATE UNITARY ENTERPRISE STATE RESEARCH AND PRODUCTION ENTERPRISE BAZALT (a.k.a. FEDERAL STATE UNITARY ENTERPRISE, STATE RESEARCH AND PRODUCTION ENTERPRISE BAZALT; a.k.a. FSUE SRPE BAZALT; a.k.a. STATE RESEARCH AND PRODUCTION ENTERPRISE BAZALT)
• FEODOSIYA ENTERPRISE (a.k.a. FEODOSIA OIL PRODUCTS SUPPLY CO.; a.k.a. FEODOSIYA ENTERPRISE ON PROVIDING OIL PRODUCTS; a.k.a. FEODOSIYSKE COMPANY FOR THE OIL; a.k.a. THEODOSIYA OIL TERMINAL)
• JOINT STOCK COMPANY CONCERN RADIO-ELECTRONIC TECHNOLOGIES (a.k.a. CONCERN RADIO-ELECTRONIC TECHNOLOGIES; a.k.a. "KRET")
• JOINT STOCK COMPANY CONCERN SOZVEZDIE (a.k.a. JSC CONCERN SOZVEZDIE)
• JOINT STOCK COMPANY MILITARY-INDUSTRIAL CORPORATION NPO MASHINOSTROYENIA (a.k.a. JOINT STOCK COMPANY MILITARY INDUSTRIAL CONSORTIUM NPO MASHINOSTROYENIA; a.k.a. JSC MIC NPO MASHINOSTROYENIA; a.k.a. MIC NPO MASHINOSTROYENIA JSC; a.k.a. MIC NPO MASHINOSTROYENIYA JSC; a.k.a. MILITARY INDUSTRIAL CORPORATION NPO MASHINOSTROENIA OAO; a.k.a. OPEN JOINT STOCK COMPANY MILITARY INDUSTRIAL CORPORATION SCIENTIFIC AND PRODUCTION MACHINE BUILDING ASSOCIATION; a.k.a. VOENNO-PROMYSHLENNAYA KORPORATSIYA NAUCHNO-PROIZVODSTVENNOE OBEDINENIE MASHINOSTROENIYA OAO; a.k.a. VPK NPO MASHINOSTROENIYA),
• JOINT-STOCK COMPANY CONCERN ALMAZ-ANTEY (a.k.a. ALMAZ-ANTEY CORP; a.k.a. ALMAZ-ANTEY DEFENSE CORPORATION; a.k.a. ALMAZ-ANTEY JSC; f.k.a. OTKRYTOE AKTSIONERNOE OBSHCHESTVO KONTSERN PVO ALMAZ ANTEI)
• KALASHNIKOV CONCERN (a.k.a. CONCERN KALASHNIKOV; a.k.a. IZHEVSKIY MASHINOSTROITEL'NYI ZAVOD OAO; f.k.a. IZHMASH R&D CENTER; f.k.a. JSC NPO IZHMASH; f.k.a. NPO IZHMASH OAO; a.k.a. OJSC CONCERN KALASHNIKOV; f.k.a. OJSC IZHMASH; f.k.a. SCIENTIFIC PRODUCTION ASSOCIATION IZHMASH JOINT STOCK COMPANY)
• KONSTRUKTORSKOE BYURO PRIBOROSTROENIYA OTKRYTOE AKTSIONERNOE OBSHCHESTVO (a.k.a. INSTRUMENT DESIGN BUREAU; a.k.a. JSC KBP INSTRUMENT DESIGN BUREAU; a.k.a. KBP INSTRUMENT DESIGN BUREAU; a.k.a. KBP INSTRUMENT DESIGN BUREAU JOINT STOCK COMPANY; a.k.a. "KBP OAO")
• LUHANSK PEOPLE'S REPUBLIC (a.k.a. LUGANSK PEOPLE'S REPUBLIC; a.k.a. PEOPLE'S REPUBLIC OF LUHANSK)
• URALVAGONZAVOD (a.k.a. NAUCHNO-PROIZVODSTVENNAYA KORPORATSIYA URALVAGONZAVOD OAO; a.k.a. NPK URALVAGONZAVOD; a.k.a. NPK URALVAGONZAVOD OAO; a.k.a. OJSC RESEARCH AND PRODUCTION CORPORATION URALVAGONZAVOD; a.k.a. RESEARCH AND PRODUCTION CORPORATION URALVAGONZAVOD; a.k.a. RESEARCH AND PRODUCTION CORPORATION URALVAGONZAVOD OAO; a.k.a. URALVAGONZAVOD CORPORATION; a.k.a. "UVZ")

---

Sectoral Sanctions Identifications List Update

The following entities have been added to OFAC's Sectoral Sanctions Identifications List:

 

• GAZPROMBANK OAO (a.k.a. GAZPROMBANK GAS INDUSTRY OJSC; a.k.a. GAZPROMBANK OJSC; a.k.a. GAZPROMBANK OPEN JOINT STOCK COMPANY; a.k.a. GAZPROMBANK OTKRYTOE AKTSIONERNOE OBSHCHESTVO; a.k.a. GPB, OAO; a.k.a. GPB, OJSC
• OAO NOVATEK (a.k.a. FINANSOVO-INVESTITSIONNAYA KOMPANIYA NOVAFININVEST OAO; a.k.a. NOVATEK)
• OPEN JOINT-STOCK COMPANY ROSNEFT OIL COMPANY (a.k.a. OAO ROSNEFT OIL COMPANY; a.k.a. OIL COMPANY ROSNEFT; a.k.a. OJSC ROSNEFT OIL COMPANY; a.k.a. ROSNEFT; a.k.a. ROSNEFT OIL COMPANY)
• VNESHECONOMBANK (a.k.a. BANK FOR DEVELOPMENT AND FOREIGN ECONOMIC AFFAIRS (VNESHECONOMBANK) STATE CORPORATION; a.k.a. BANK RAZVITIYA I VNESHNEEKONOMICHESKOI DEYATELNOSTI (VNESHEKONOMBANK) GOSUDARSTVENNAYA KORPORATSIYA; a.k.a. "VEB")

*  *  *

But - as we noted here - Russian firms can handle a debt market closure for one simple reason: they actually make money.

Russian companies, facing $115 billion of debt due over the next 12 months, will have the funds even as bond markets shut because of the Ukraine crisis, according to Moody’s Investors Service and Fitch Ratings.  

Firms will have about $100 billion in cash and earnings at their disposal during the next 18 months, Moody’s said in an analysis of 47 businesses April 11. Almost all 55 companies examined by Fitch are “well placed” to withstand a closed refinancing market for the rest of 2014, it said in a note on April 16. Banks have more than $20 billion in foreign currency to lend as the tensions prompted customers to convert their ruble savings, ZAO Raiffeisenbank said.

“The amount of cash on balances of Russian companies, committed credit lines from banks and the operating cash flows they will get is sufficient for the companies to comfortably service their liabilities,”Denis Perevezentsev, an analyst at Moody’s in Moscow, said by phone on April 17.

And now we await the blowback, as just like the last round of US sanctions merely accelerated the Russia-China holy grail gas deal, so this one should should lead to a promptly completion of the BRIC bank. The only good outcome, considering the Fed is desperate for someone, anyone, to sell bonds, is that Russia and its $110 billion in TSYs, should promptly oblige.

http://en.itar-tass.com/world/741006

EU summit confirms sanctions expansion against Russia

World

 July 17, 2:31 UTC+4
As of now, the EU blacklist contains 72 individuals

© EPA/JULIEN WARNAND

BRUSSELS, July 17 /ITAR-TASS/. The European Union’s summit officially confirmed that sanctions against Russia will be expanded, according to the summit’s final communique distributed in Brussels.

Additional sanctions agreed at a European Union summit envision putting new individuals and companies on a blacklist for Russia and Ukraine, a diplomatic source said on the sidelines of the EU summit.

The source said the talk was about entities whose actions undermine Ukraine’s territorial integrity.

As of now, the EU blacklist contains 72 individuals, including Russian politicians and officials, as well as militia leaders of the self-proclaimed Donetsk People’s Republic (DPR) and Lugansk People’s Republic (LPR) in eastern Ukraine. Besides, there are two Crimean companies on that list.

Western nations have subjected some Russian officials and companies to targeted sanctions, including visa bans and asset freezes, following Crimea’s incorporation by Russia in mid-March.

Despite Moscow’s repeated statements that the Crimean referendum on secession from Ukraine was in line with the international law and the UN Charter and in conformity with the precedent set by Kosovo’s secession from Serbia in 2008, the West and Kiev have refused to recognize the legality of Crimea’s reunification with Russia.

The West, led by the United States, has threatened Russia with further punitive measures, including economic ones, for incorporation of Crimea and what the West claimed was Moscow’s alleged involvement in protests of federalization supporters in Ukraine’s embattled Southeast.

Russia has repeatedly dismissed Western allegations that it could in any way be involved in protests in the Southeast of Ukraine, which started after Crimea refused to recognize the authorities propelled to power during a coup in Ukraine in February and reunified with Russia in mid-March after some 60 years as part of Ukraine.

Moscow has rejected the threats of broader sanctions saying the language of penalties is counterproductive and will strike back at Western countries.

Pro-Kiev troops and local militias in the southeastern Ukrainian Donetsk and Lugansk regions are involved in fierce clashes as the Ukrainian armed forces are conducting a military operation to regain control over the breakaway regions, which on May 11 proclaimed their independence at local referendums.

During the military operation, conducted since mid-April, Kiev has used armored vehicles, heavy artillery and attack aviation. According to Ukraine’s Health Ministry, 478 civilians have been killed and 1,392 wounded in it. Many buildings have been destroyed and tens of thousands of people have had to flee Ukraine’s war-torn Southeast.

http://rt.com/news/173372-putin-brics-us-sanctions/

​Putin: US sanctions contradict its national interests, will backfire

Published time: July 16, 2014 23:18 

Edited time: July 17, 2014 00:06

Imposing sanctions on Russia and blaming it for destabilizing Ukraine contradicts US national interests, President Putin said at the BRICS summit in Brazil, emphasizing that declared support of Ukrainians should not be limited to the country’s oligarchs.

READ MORE: US widens sanctions on Russia, EU takes time to think over

Speaking to the press following the BRICS summit in Brazil, Vladimir Putin was asked to comment on the new package of sanctions against Russia announced just minutes earlier by the US President.

“We aren’t the ones introducing sanctions, you should ask them,” Putin said.

“But as for sanctions, they usually have a boomerang effect, and without a doubt will force US-Russian relations into a corner,” he elaborated. “This is a serious blow to our relationship. And it undermines the long term security interests of the US State and its people.”

Putin said that it is “regrettable” that “our partners” have chosen to impose new sanctions, but Russia “will not close doors to negotiations.”

“We're open to finding ways out of this situation,” Putin said. “I really hope that common sense and the willingness to resolve all issues through peaceful diplomatic means will prevail.”

International law and constitution should be respected

Failure to recognize state institutions, constitution and international law, Putin said commenting on Ukraine, “leads to internal conflict,” hinting the US policy towards Ukraine and unconditional support of Kiev authorities leads to more bloodshed.

“Those who force countries to such scenarios should never forget that the blood of the regular army soldiers, of the resistance soldiers, of civilians will be on their hands,” Putin said. “And the tears of mothers, widows, orphans belong to them. And they have no right to shift the responsibility," as he urged all parties in Ukraine to sit at the negotiating table.

Meanwhile back at the Brazilian ranch...... USD being put on the barbecue ? USD can't last  forever , folks ! Definitely not forever or a couple of forevers.....

off - topic ...but you know the riffs are from this one...

http://www.zerohedge.com/news/2014-07-15/brics-announce-100-billion-reserve-bypass-fed-developed-world-central-banks

BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks

Submitted by Tyler Durden on 07/15/2014 - 23:38

"We are pleased to announce the signing of the Treaty for the establishment of the BRICS Contingent Reserve Arrangement (CRA) with an initial size of US$ 100 billion. This arrangement will have a positive precautionary effect, help countries forestall short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements. We appreciate the work undertaken by our Finance Ministers and Central Bank Governors. The Agreement is a framework for the provision of liquidity through currency swaps in response to actual or potential short-term balance of payments pressures." - The BRICS

http://www.zerohedge.com/news/2014-07-14/anti-dollar-alliance-prepares-launch-brics-bank

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Anti-Dollar Alliance Prepares Launch Of BRICS Bank

Submitted by Tyler Durden on 07/14/2014 - 22:58

Three months ago we discussed in detail the growing anti-dollar hegemony alliances that were building across the BRICS countries(Brazil, Russia, India, China and South Africa). Their efforts at the time, to create a structure that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), appear to be nearing completion. As AP reports, Brazil's President Dilma Rousseff and Russia's Vladimir Putin have discussed the creation of a development bank to promote growth across the BRICS and hope to produce an agreement on the proposed institution at this week's BRICS Summit. As Rousseff concluded (rather ominously), the five countries "are among the largest in the world and cannot content themselves in the middle of the 21st century with any kind of dependency."