The United States seems to be stinking of sheer hypocrisy. On one hand, it wants to give unequivocal support to Ukraine and provide whatever Kyiv needs. And when it realizes, its own arms inventory is fast depleting, it is engaging in secret negotiation talks with Russia. On one hand, it wants to crush the Russian economy with sanctions. But on the other, the Biden administration wants its banks to continue operating in Moscow.
The US Treasury and State Departments have urged banking giants including JPMorgan and Citigroup to keep doing business with certain strategic Russian firms, according to people familiar with the situation, even as some lawmakers are demanding stronger sanctions against Russia over the war in Ukraine. Jenny Surane reports on Bloomberg Television.