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sanctions on Russia for the poisoning and jailing of anti-corruption activist and opposition politician Alexei Navalny.
However, what Washington would do has been the subject of speculation. So far it has mirrored the EU symbolic sanctions over Navalny and pulled its punches, with another round published on April 15 which targeted Russia’s domestic OFZ bonds for the first time, banning US investors from the primary auctions but not secondary market trading that are largely symbolic, as they have no effect on investors in practical terms.
“We could have done more, but we didn't,” Biden said after the details of the sanctions were announced.
Common ground
Biden has said that Russia will be “made to pay” for its interference in US domes- tic politics, but at the same time he has signalled that he wants to “stabilise” the relationship and is certainly not keen to escalate, but will do so if he is forced by Kremlin aggression.
excluded from the regular sanctions report, although subsidiaries and various ships remain on the list. The official also suggested that Biden valued Washing- ton’s relationship with Germany more than it felt the necessity to punish Russia.
German Foreign Minister Heiko Maas welcomed the news and pointed out that Germany’s desire to see the pipeline com- pleted was the “one major point of conten- tion” between Berlin and Washington.
However, the decision not to sanction the company ahead of the Lavrov- Blinken meeting will also usefully be taken as a strong positive signal by the Kremlin that the White House is willing to compromise. Apart from the symbolic sanctions related to Navalny and the OFZ bonds, the only other significant interaction between the Kremlin and the White House since Biden took over has been to renew the key START III missile treaty – something else that both sides wanted. Both Biden and Russian Presi- dent Vladimir Putin have said publically they are interested in co-operating on
can work together co-operatively, our people, the world can be a safer and more secure place,” he added.
Lavrov responded in kind by laying out a shopping list of complaints, but ended his opening remarks saying that Russia is also looking for “strategic stability”
in its relationship with the US.
“We seriously diverge in our assess- ment of the international situation
and our approaches towards how we should resolve it,” Lavrov said. “Our position is clear: we are ready to discuss all issues without exception, on the understanding that the discussion will be honest, factual and conducted with mutual respect. The laws of diplomacy recommend mutuality, especially when it comes to a response to any kind of hos- tile actions. Our task is to make the best of the diplomatic opportunities we have, and we appreciate that you demonstrate such an approach,” he noted. “Not exactly similar views but similar goals,” emphasised Lavrov, without the help of a Russian translator.
As bne IntelliNews has reported, the two rivals are engaged in a delicate diplo- matic dance that combines offers of co- operation and sabre rattling. Blinken in particular highlighted the recent build- up of Russian troops on Ukraine’s border and also called for the release of two Americans – Paul Whelan and Trevor Reed – in Russians jails, who have been charged with espionage.
The list of differences is long and the two diplomats are not seeking the reset that former president Barak Obama tried at the start of his first term, but there is a clear message that pragmatic co-operation is possible.
Blinken mentioned Russia’s military operations in the Syrian civil war and added that it’s “no secret that we have our differences,” just after an elbow bump with Lavrov in his opening remarks.
Blinken, according the US account, added some more specifics of issues the two discussed, suggesting “enhanced cooperation,” involving Afghanistan, as
“We could have done more, but we didn't,” Biden said after the details of the sanctions were announced”
Notably on the eve of the Lavrov-Blinken meeting on May 19 a report was “leaked” that the US would not sanction the Swiss-registered but Russian-owned Nord Stream 2 AG operating company, chaired by Putin’s friend and German national Matthias Warnig, that is building the Nord Stream 2 gas pipeline, thus more or less ensuring its completion this summer.
“I have determined that it is in the national interest of the United States to waive the application of sanctions on Nord Stream 2 AG, its CEO Matthias Warnig and Nord Stream 2 AG’s corpo- rate officers,” Blinken said in a state- ment accompanying the report.
An official at the US State Department confirmed that the company was being
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arms control deals, climate change and a raft of international problems like Syria, Libya, tensions in the Middle East and most recently the outbreak
of violence in Gaza.
Summit to talk about
The meeting in Reykjavik went well, with Blinken telling Lavrov the US is seeking a “more stable and predictable relationship with Moscow,” but added that the US would “act firmly in the defence of US interests.”
“There are many areas where our interests intersect and overlap, and
we believe that we can work together and indeed build on those interests,” said Blinken. “It is our view that, if the leaders of Russia and the United States