After the Ukraine war, it turned out that the USA, England and other Western countries, who took financial sanctions against Moscow and threatened those who did not comply, were secret partners of Russian oil. According to the news published by the Guardian newspaper based on the report of the research group Lingo, 400 financial institutions, mostly based in the USA and England, funded Russian oil companies with 130 billion dollars. Giant investment banks such as JPMorgan Chase and HSBC lead the way in funding.
After Russia’s attack on Ukraine, which started on February 24, Western countries had taken economic and financial sanctions against Moscow. It is also known that he made attempts to force other countries, especially the USA and the UK, to join the sanctions and to threaten them. However, a joint research group report published yesterday revealed that many US and UK-based investment funds have invested billions of dollars in the oil sector, which is Russia’s biggest support in the war.
According to the news published in the Guardian newspaper, the data set created by the research group Leave it in the Ground Initiative (Lingo) included 400 foreign financial institutions, including giant investment banks such as JPMorgan Chase and HSBC.
400 FINANCIAL INSTITUTIONS
According to the news of Yeni Şafak, Lingo’s research revealed that most of the 400 financial institutions in question are western companies and have invested 130 billion dollars in Russian energy giants operating in the fossil fuel (oil and natural gas) sector such as Gazprom, Novatek, Lukoil, Rosneft and Tatneft. It was stated that 54 billion dollars of these investments were in the form of investments and 84 billion dollars in the form of loans.
HALF US-CENTERED
It was determined that almost half of the financial institutions that fund Russian oil companies are based in the USA. It was noted that 154 American institutions invested $23.6 billion, with JPMorgan Chase leading the way with $10 billion. It was noted that the UK is in the third place in the list with 32 financial institutions, especially HSBC, and an investment of 2.5 billion dollars. In the list, it was determined that dozens of institutions from Japan, Norway, Switzerland, the Netherlands and Italy had significant investments.
They are in a wait-and-see position.
Explaining the hypocritical policy of Western countries, Lingo officials pointed out that some companies on the list may have reduced investment in Russian oil, but most financial institutions have taken a wait-and-see position. They also pointed out that Western energy companies operating in Russia are not included in the data bank.