US removes sanctions on Russia for overflight payments & emergency landings

In a major development, United States has announced waiving sanctions that y h imposed against Russia concerning overflight payments, emergency landings and air ambulance services. announcement has been me by US Treasury Department in a statement on Thursday, 5 May. US ministration will permit wind-down transactions with Russian Sber Bank subsidiaries with Russia's Sberbank subsidiaries in Kazakhstan and Europe from July 12, Sputnik reported. 

In statement, US ministration has announced that allowing "Overflight payments, Emergency Landings and Air Ambulance Services with an exception of those provided in paragraph of general license and "all transactions ordinarily incident" and services taken in connection with overflights of Russia or emergency landings in Russia by flights registered in US that have been prohibited by Russian Harmful Activities sanctions regulations have now been permitted, as per Sputnik report. Furrmore, Biden ministration has allowed Wind-down of transactions involving Joint Stock Company SB Sberbank Kazakhstan, Sberbank Europe AG or Sberbank (Switzerland) AG or any entity which included blocked Sberbank subsidiaries that h been prohibited by Executive order will be allowed from midnight on July 12.

US open to announcing new sanctions against Russia: Biden 

It is pertinent to note here that US along with several EU nations have been imposing sanctions against Russia. EU nations have been offering military and humanitarian assistance to Ukraine which continues to resist Russian forces for over 70 days. Earlier on May 4, US President Joe Biden stated that ir ministration is open to considering idea of imposing ditional sanctions against Russia and that country will consult with partners in Group of Seven vanced economies on issue. Biden me remarks while speaking to reporters at White House. In meantime, European Union has proposed more sanctions against Russia, including a ban on Russian oil imports. European Commission President Ursula von der Leyen on May 4, proposed a new package of sanctions against Russia that would include a total oil embargo on Russian oil imports.  Ursula von der Leyen proposed disconnecting Russia’s largest bank Sberbank and at least two or major banks from SWIFT international banking payment system.  She called for imposing a ban on three big Russian state-owned brocasters from EU's airwaves. se brocasters will not be permitted to distribute ir content in European Union. 

"With regard to ditional sanctions: We’re always open to ditional sanctions, and I’ve been in consultation.  I’ll be speaking with members of G7 this week about what we’re going to do or not do, number one," US President Joe Biden said. 

Image: AP