Biden Administration sanctions Russia and Serbia, Joe Biden says sanctions could hurt Americans — there are costs to US sanctions!
Pro-Sanctions Sign (Pexels)
RT reported the following:
Biden admits Russia sanctions could hurt Americans
11 January 2025
US President Joe Biden has admitted that the latest package of American sanctions targeting Russia’s oil industry could harm ordinary Americans, saying they may lead to a slight increase in gas prices.
On Friday, the US Treasury Department unveiled a “sweeping” round of sanctions on Russia, imposed in coordination with the UK. The measures target two major oil producers, Gazprom Neft and Surgutneftegaz, as well as their subsidiaries and entities providing insurance and transportation services. Over 180 vessels allegedly used to transport Russian oil in defiance of Western restrictions, which the US has described as a ‘shadow fleet’, were also sanctioned.
Asked whether he is concerned that the sanctions could lead to gas prices going up, Biden said the possibility cannot be ruled out. “It is probable that gas prices could increase by as much as three or four cents a gallon, but the sanctions will have a more significant impact on Russia’s ability to continue its actions in the conduct of war,” he said.
“These restrictions will have a profound effect on the growth of Russia’s economy,” Biden argued, adding that the sanctions aim to hinder Moscow’s ability to finance its military operations. https://www.rt.com/news/610719-biden-admits-russia-sanctions-backfire/
The price of oil around the world rose after Joe Biden made those comments:
Oil prices jumped on Friday as the U.S. Treasury Department announced sweeping sanctions against Russia’s oil industry.
Brent gained $2.84, or 3.69%, to close at $79.76 per barrel, while U.S. crude oil advanced $2.65, or 3.58%, to settle at $76.57 per barrel. The benchmarks closed at their highest levels since October.
The sanctions target Russian oil companies Gazprom Neft and Surgutneftegas and their subsidiaries, more than 180 tankers, and more than a dozen Russian energy officials and executives. The sanctioned executives include Gazprom Neft CEO Aleksandr Valeryevich Dyukov. https://www.cnbc.com/2025/01/10/oil-jumps-more-than-4percent-brent-breaks-80-as-traders-worry-about-tougher-russia-sanctions.html
So, yes, this will negatively affect Americans.
The US also has sanctions issues with Serbia because Gazprom is part of an energy company there:
US imposes sanctions on Serbia’s Russian-owned petrol industry
Serbia’s President Aleksandar Vučić said on Friday he would hold talks with his Russian counterpart Vladimir Putin after the US targeted Serbia’s main oil and gas company, NIS, with sanctions over Russian ownership.
In a press conference, Vučić stated that the US is demanding the immediate removal of the Russian state-owned company Gazprom from the corporation.
“From what we’ve seen, it’s more about ‘removal’ than ‘reduction.’ They won’t even allow a 49-percent option; they want a complete exit from NIS,” the Serbian president said.
“NIS might be able to continue its regular operations, but we would need to immediately begin a plan to change the ownership structure,” he added.
Details of the sanctions’ demands are scheduled to be explained in a joint press conference between Serbian and US representatives on Saturday. … Until now, Serbia has benefited from a competitive edge due to its agreement with Russia. The newly imposed sanctions, however, might deal a significant blow to the country’s economy, according to authorities. https://www.euronews.com/my-europe/2025/01/10/serbias-vucic-to-speak-with-putin-following-us-sanctions-against-russian-owned-oil-firm
This sanctioning will hurt Serbia. And while leaders in Serbia are trying to deal with this, even threatening to impose sanctions against Serbia is pushing it away from the US. There are many unintended consequences and costs of sanctions.
As far as sanctions inflicting pain through destroying Russia’s currency, like Joe Biden once said, Voice of America reported the following years ago:
Russia’s Ruble Rebound Raises Questions of Sanctions’ Impact
March 31, 2022
The ruble is no longer rubble. …
President Joe Biden promoted the success of the sanctions — some of the toughest ever imposed on a nation — while he was in Poland last week. “The ruble almost is immediately reduced to rubble,” Biden said.
https://www.voanews.com/a/russia-s-ruble-rebound-raises-questions-of-sanctions-impact-/6509012.html
While sanctions do impact the Russian economy, there are costs to those who impose sanctions. US President Joe Biden’s statement of the ruble’s (also spelled rouble) demise to rubble were premature at best.
The Russians also claimed last Fall that sanctions have strengthened their economy:
8 October 2024
Sanctions have made Russian economy stronger – top academic
Western sanctions imposed on Russia amid the Ukraine conflict have made the country’s economy stronger, Nikita Anisimov, rector of the HSE University in Moscow, has said.
Speaking on behalf of HSE economists at a parliamentary hearing on the draft of the 2025-2027 federal budget on Monday, Anisimov said sanctions have effectively propelled the restructuring of the country’s economy. According to the expert, this has led to Russia “essentially ceasing” its dependence on the export of raw materials such as oil and gas for income – a task the government has been grappling with for years. …
The World Bank and the International Monetary Fund both raised their growth forecasts for the Russian economy earlier this year. The former predicted it to grow by 2.9% in 2024, and in July upgraded Russia to a “high-income country.”
The IMF in April said it expected the country’s GDP to expand by 3.2%, faster than all advanced economies, including the US, the UK, Germany, and France. 10/08/24 https://www.rt.com/business/605405-sanctions-russian-economy-stronger/
Sanctions have impacted Russia, but have not changed its major objectives.
As regular readers of this COGwriter Church of God News page are aware, I have long warned about the use of sanctions. Many of which were imposed against Russia in 2014 after its annexation of Crimea.
In 2018, we put out the following video:
US Sanctions and Tariffs leading to New World Order?
Russian Prime Minister Dmitry Medvedev said new US sanctions would be a declaration of economic war. Iran, North Korea, China, Europe, and Turkey are also upset about USA sanctions and tariffs. A Turk asserted “Somebody must find a solution and stop the USA.” The BRICS nations see US sanctions and tariffs as helpful to their objectives to trade without the USA. Are “unintended consequences” of USA policies threatening the current Anglo-American world order and leading to a New World Order? What has ‘Lord’ Jacob Rothschild and Russian President Vladimir Putin stated? Does Bible prophecy show that a confederation of Turks, Arabs, and Europeans pose a real threat to the USA and UK? Is the final time of the Gentiles coming? Will it be worse than people imagine? Dr. Thiel addresses these issues and more.
Here is a link to our video: US Sanctions and Tariffs leading to New World Order?
And back on March 18, 2019, I posted:
It remains my view that Crimea and at least parts of eastern Ukraine will ultimately align with Russia.
International sanctions will not stop biblical prophecies from being fulfilled. (Thiel B. ‘Putin in Crimea as Russia Marks Five Years Since Annexation’ the ‘Kings of the Medes’ will arise. COGwriter, March 18, 2019)
And the events of the past several years confirmed my view that sanctions and threats of sanctions would not stop Russia from having territories align with it. Additionally, Russia has ended up with at least parts of eastern Ukraine aligning with it.
I have long warned of “unintended consequences” of USA sanctions policies against Russia.
Last year, we put out the following video:
Russia, Sanctions, Transnistria, Europe & Prophecy
In 2014 the USA and European Union put sanctions on Russia because of its acquisition of Crimea. Since Russia’s ‘Special Military Operation’ into Ukraine, more sanctions were added. On February 23, 2024, the EU and USA announced more sanctions. Did the sanctions turn the “ruble into rubble” as Joe Biden hoped? Did Russia acquire more territory as Dr. Thiel warned in 2013, 2018, and 2022 prior to the current conflict? Was he right about sanctions? Will Russia and Europe acquire more territory? Will they one day trade more with each other? Will they one day turn against each other? What about Ukraine, Moldova, Belarus, Georgia, and Armenia? Are the Russian-led ‘kings of the Medes’ prophesied to destroy the coming Babylonian European Beast power? Does Europe, starting with Benelux to the European Economic Community to the European Union look to be fulfilling Daniel 8:9? Steve Dupuie and Dr. Thiel address these issues.
Here is a link to our video: Russia, Sanctions, Transnistria, Europe & Prophecy.
At the beginning of this post is a pro-sanctions sign that pushed to get Russia excluded from the SWIFT banking system.
While that has to a major degree occurred, Russia had already developed its own alternative to SWIFT (see ‘Russia Is Prepared To Disconnect From SWIFT Payment System: Foreign Ministry’) and has been encouraging other nations to bypass the SWIFT system (see ZH: Russia Urges BRICS Nations To Create Own ‘SWIFT’ System, Warns ‘Sanctions Are Destroying International Order’). Russia also has a lot of gold (see also Gold affected by European & US banking concerns; Russia announced increased gold reserves).
Last Fall, we put out the following video:
SWIFT end to the US dollar?
After World War II, the US dollar became the world’s primary international trading currency. In this video Dr. Thiel and Steve Dupuie went over some of the reasons for that development. They also discussed US dominance of SWIFT. SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication. SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions. The use of sanctions and the weaponization of SWIFT by the US was brought out as were alternatives to SWIFT development by Russia (System for Transfer of Financial Messages-SPFS) and China (Cross-Border Interbank Payment System-CIPS). Also the BRICS Pay alternative to SWIFT, mentioned at the BRICS Kazan Summit in October 2024 was mentioned as well as “the Unit”, which is a potential, gold-backed currency that Vladimir Putin brought up as another alternative. An article titled ‘The Biggest Story that’s NOT Being Told Will WREAK HAVOC on the US Economy’ was discussed along with the specter of extreme inflation hitting the US once its dollar is no longer relied on internationally. The fact that SWIFT is supposed to be a European system, and one that Europeans want more control of, was mentioned along with the fact that the Europeans could also push harder for the end of SWIFT and/or the US dollar dominance. The timing of the coming Great Tribulation and US banking/financial matters was also mentioned.
Here is a link to our video: SWIFT end to the US dollar?
Notice also something that Russia’s Foreign Minister said a couple of days after we made the above video:
5 November 2024
The hybrid war being waged by the US and its allies against Russia is hurting the world’s poorest nations the most and backfiring on Washington, Russian Foreign Minister Sergey Lavrov has argued. …
By struggling to preserve its “privileged position,” Washington is “chopping down the branch on which it sits” and “destroying the system of globalization that they have fostered and promoted to the world,” according to Lavrov.
“The dollar, which for decades has been advertised to us as the common property of all mankind, has been turned into a weapon of oppression and punishment against geopolitical competitors and dissenters. In doing so, they have essentially written a sentence for the dollar as a global reserve currency and a means of international settlement,” Lavrov said.
Last month, at the BRICS Summit in Kazan, President Vladimir Putin noted that Washington has made a “big mistake” by weaponizing the dollar. In pursuing de-dollarization, Moscow is not trying to undermine the US currency but is merely “forced to look for alternatives” in trade with its partners, he stressed.
“The United States itself is withdrawing the dollar from circulation, as more countries begin to fear that they may be next. No one knows what they can be punished for,” Lavrov noted on Monday, recalling Putin’s words. …
Over the past ten years, Russia has faced more than 21,000 sanctions across various sectors, from economics and trade to culture and sports, according to Lavrov. Russian financial institutions were largely cut off from the Western system in 2022 in response to Russia’s military operation in Ukraine. As a result, Moscow has accelerated trade with international partners using their national currencies, a trend increasingly supported by BRICS members, who have shifted away from using the dollar and euro for trade settlements. https://www.rt.com/russia/607000-lavrov-us-dollar-sentence-sanctions/
The US keeps hurting itself with its sanctions and other weaponizations of its dollar. Its dollar will no longer remain “king.”
This will greatly impact the economy of the USA in a massively, negative way.
Let me add that a major cost to US sanctions on Russia and others is that more and more countries are looking at ways to bypass the US dollar (see also yesterday’s post: MW: Can America Survive Global De-Dollarization? COGwriter: No!).
More nations have expressed interest in joining the BRICS+ alliance (see Thailand accepts Russia’s invitation to become part of the BRICS+ alliance and Indonesia now officially part of BRICS, while US dollar reserves reducing in the world) and that alliance wants to bypass the US dollar.
Sanctions against Russia have repeatedly failed in their official purpose, yet it seems like every few months there are leaders who call for more of them.
And yes, sanctions are hurting Americans.
Some items of possibly related interest may include:
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy as are two video sermonettes Russia, Ukraine, Babylonian Europe, and Prophecy and Ukraine in Prophecy?
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Ezekiel 38: For Russia & Iran in Our Day? Is Ezekiel 38 about to be fulfilled? Are we close to the battle with Gog and Magog? Four related videos are available: Ezekiel 38 Gog and Magog War: Is it Soon?, Ezekiel 38: For Russia, Ukraine, & Iran Now?, Russia, Iran, Syria, & the Bible (Code), and Gog, Magog, Vladimir Putin, and Ezekiel 38?
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What About Silver? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? Do you really know what will happen to Europe and the English-speaking peoples? What about the peoples of Africa, Asia, South America, and the islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
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