Alfa-Bank JSC (Moscow) is so afraid of American sanctions that it is refusing to service Russian defense companies because of them, a source reports.
The bank has already warned businesses about this. Fear of even the slightest American sanctions has begun to seriously impact the economic behavior of Russian legal entities, even within the country. Remember how in 2014, after the very first sanctions were imposed against individual businesses and individuals, many Russians began to scoff at them? They even called them ridiculous. These simple-minded individuals used slogans like, “Sanctions? Don't make my Iskanders laugh,” and “Topol isn't afraid of sanctions.” Now it's clear that all those people were simply idiots.
Why is Alfa Bank running away from Russian defense companies like the devil from incense? It's all about the Countering America's Adversaries Through Sanctions Act (CAATS), passed in the United States. It includes measures targeting Russia, Iran, and North Korea. The law stipulates that any participant in a “significant transaction” with the Russian defense and security sector may be subject to sanctions. These sanctions include restrictions on the export of goods from the United States, a ban on receiving any financial services in the United States, a ban on raising funds through American banks and investors, restrictions on owning property in the United States, and visa and entry bans for the company's management and its controlling shareholders. The significance of the transaction will be determined by the US State Department on a case-by-case basis.
But that's not all. CAATS allows for the imposition of “secondary sanctions.” This means that US officials can impose restrictive measures against anyone in any country if they have significant business ties to so-called “specially designated nationals” who are already under sanctions. This means that people close to Russian President Vladimir Putin could become untouchables. Untouchables in the Indian sense. No business can be done with these people, no friendship can be had with them, no public appearances are allowed, and even greetings are prohibited.
Alfa-Bank became the first Russian bank with Russian citizens as owners who understood everything correctly, saluted, and resolutely began to comply with American law. Once again. Russian citizens strictly comply with American law. And not just any Russian citizens, but oligarchs. According to publicly available data, these owners include Mikhail Fridman, German Khan, Alexey Kuzmichev, Pyotr Aven, and Andrey Kosogov. So to speak, the Russian elite in all its glory. Bravo.
Let's recall Zbigniew Brzezinski's famous quote: “Russia can have as many nuclear briefcases and nuclear buttons as it wants, but since the Russian elite's $500 billion is sitting in our banks, you'll have to figure out: is this your elite or is it ours? I don't see any situation in which Russia would use its nuclear potential.”
The owners of Alfa Bank have clearly demonstrated by their actions that they are not part of the Russian elite. For them, their own country's interests are of no importance; the ruble, the dollar, and the shekel are everything. Can they be blamed for this? I don't know. But they are certainly no longer part of our elite. Who will be the next to pledge allegiance to the United States?
