ADAM TOOZE

@BachmannRudi Hi Rudi … people who know more convinced me that SWIFT was secondary and then the whole question of GL8 opened up and the

What Biden said press conference is that Europe (i.e. Ger/It) blocked SWIFT measures v. Russia. What he did not say at the press conference is

The sanctions that aren’t Chartbook #86 just dropped. On Biden’s announcement and the energy carve-out of GL8 adamtooze.substack.com/p/chartbook-86… https://t.co/xZ1PvFxurT

@blueskycap1 Yup. …. Separate one for agriculture as well!

@AlbertoNardelli BRILLIANT thank you. I thought I was losing my mind. So the logic flow is: Oh SWIFT really doesn’t matter Cos correspondent banking is

Do Biden’s historic sanctions against ALL the big Russian banks actually contain a giant carve out for energy, precisely what matters most for sanctions? Can

@karolkarpinski @uwwauw I think I found the relevant text here FAQ 977 976 home.treasury.gov/policy-issues/… https://t.co/EGVmAbtSq2

"all funds transfers related to energy (GL8) involving Covered Entities must be processed indirectly through a non-sanctioned, non-U.S. financial institution.” It would seem that payments

General licenses: Does anyone have a good take on the exemptions to the US Treasury sanctions? Is there a word missing in the critical sentence?

@karolkarpinski @uwwauw Hi Karol, thanks for this great thread. What do you make of Biden’s comment that they are exempting energy payments? Will this be

RT @KofmanMichael: I made a basic map, with red arrows, which I have held off from posting because I believed it would not be responsible

RT @ABC: People attend an anti-war protest in Saint Petersburg, Russia, amid Vladimir Putin's invasion of Ukraine. LIVE UPDATES: https://…

@Tpsmyth01 @Datkhvi Is this what will enable energy payments to be made? A point on which Biden also touched.

@Datkhvi Yup. Shame Biden didn’t lay it out like that.

RT @atanessi: Today, I asked a Russian diplomat how he was doing. "I don't know how to respond to this question," he texted back. "I

@MacaesBruno Seriously Bruno I think you are really missing the point here.

@MacaesBruno Bruno, surely it is clear that risk of blowback to Europe from Russia is FAR greater than risk of blowback from Iran. Plus US

RT @esaravalle: You can’t do much if you’re on SWIFT but without correspondent banking accounts. You can do more with correspondent account…

RT @Phil_Mattingly: Sberbank sanctions: https://t.co/7A5w7psAsd

Sberbank is in! twitter.com/willmauldin/st…

RT @tashecon: Bottling out on Sberbank then.

RT @M_C_Klein: New at THE OVERSHOOT: Russia Was Already Cutting Off Europe's Gas Before Invading Ukraine. What Can Be Done? https://t.co/…

RT @AdrianMorrow: No word from Biden on cutting Russia out of SWIFT, or blocking oil and gas exports, which are central to Russia's governm…

Biden just attributed the decision not to do SWIFT to the Europeans!

Does anyone have details on what exactly Biden is promising to do here? Sanctioning banks but ensuring that energy payments can continue? (Sic) VTB but

RT @camiel_coenen: @adam_tooze @KangHexin Don't forget the possibly massive impact on Egypt: economist.com/middle-east-an…

"Lebanon imports 50 per cent of its total wheat consumption from Ukraine, followed by Libya at 43 per cent, Yemen at 22 per cent, and

As @JavierBlas pointed out earlier this week, $700m per day flow from Western buyers of energy and raw materials to Russia. They are continuing to

RT @SevaUT: anti-war protest happening in moscow right now, despite all the crackdown measures

Interesting tension revealed by this comment from Russia's chief industrial lobbyist face to face with Putin. twitter.com/antontroian/st…

RT @DeItaone: *UBS TRIGGERS MARGIN CALLS AS IT CUTS RUSSIA BOND VALUES TO ZERO

@davidimarcus Ive heard tell of these listservs … what are they?

RT @MatinaStevis: UPDATE: EU diplomats tell me carveout demands (incl those above) evaporated. Broad agreement on sanctions today. BUT: new…

RT @MatinaStevis: Diplomats tell us following sanctions are tricky: – ITA, AUS, DE concerned abt broad banking-sector sanctions – ITA resis…

Instead of the simplistic @markets graph showing Russian reserves ahead of liabilities, read this by @mcopelov thanks Mark for correction. twitter.com/mcopelov/statu…