Russia sees serious threat in FATCA
http://rt.com/business/185080-russia-fatca-serious-threat/Russia’s financial system is “threatened” by America’s new tax law that demands foreign banks report on all American citizens’ banking activities, the Russian Federal Financial Monitoring Service said Thursday.
The head of the financial monitoring authority Yury Chikhanchin likened the one-sided data exchange to turning Russian banks into spies for the Americans.
...
The Russian financial watchdog believes the American tax law is itself a form of sanctions. The head of the authority believes that such mechanisms can exist, but should be multilateral.
Originally Russia planned a bilateral information exchange with the US over FATCA after the law was passed in 2010 but the US Treasury Department suspended negotiations with Russia in March 2014 over the Ukrainian conflict
How conveniently timed for the US that Ukrainian conflict just jumped up, reaching for a cookie. More and more US benefits from the conflict are becoming apparent...
A reader comment, which actually sums up Russia's hopes for the West over the last few centuries:
RGRG123
russia and putin always hope to be accepted by the west as an equal and respected partner but the west never look at russia or putin similarly. in the eyes of the west, russia is a certified back water, a lawless place, bandit countries populated by uneducated and uncultured barbarians, regardless of how wrong the preception is. simply put, the west looks at russia and russian with contempt. russia is so obliging to this FATCAT thingy but come to think of it, why should russian banks obliged if it does not do business in the usa
why should the russian authority agree to and sanction it
why are russia and putin soooooo meek and lame when it come to western/american demands
And another good one, saying what to do
nothread
Follow China. China is thriving with investments opportunities. As a result, the biggest Hedge Funds in China are always been sought by American investors. Once FATCA enacted, China began to refuse American investors. The money is send back to sender. Russia should begin sending back their money and apologizing for the inconvenience. Jen Psacki said that "Russia is NOT part of the international community". They seen as inferior people in Washington. "I'm serious". This is teached at american schools. When you kid you hear stories of American superiority.. " we won ww2"..."Russians were starving we fed them and gave them weapons".. germany lost because of the weather".. Ask if " Do Moscow weather last nearly 4 years? You get kicked out and sent to wash face or something. LOL
