Greg Gianforte Out of Touch With Montanans

GIANFORTE OWNS $240K in RUSSIAN ETFS THAT HAVE COMPANIES SANCTIONED BY THE U.S.

$150,000 in VANECK VECTORS

Gianforte Owned $150,000 In Vaneck Vectors Russia ETF…

 

[Gianforte Personal Financial Disclosure, 3/17/17]

 

[VanEck, RSX Holdings]

 

…8 Of The Top 13 Holdings Of The ETF Are Currently Under US Sanctions Over Russian Intervention In Ukraine (Sberbank Russia, VTP Bank, Gazprom, Lukoil, Rosneft, Novatek, Transneft, & Surgutneftegas)

 

  • ·         2014: The US Included Sberbank Russia And VTP Bank In Its Sanctions To Punish Russia For Their Intervention In Ukraine. “The United States will take new steps on Friday to limit the access of major Russian banks, including Sberbank, to U.S. debt and equity markets to punish Russia for its intervention in Ukraine, sources familiar with the matter said. The sanctions are timed to coincide with fresh European Union economic penalties, with both sets aimed at the Russian energy, financial and defense sectors. They are the latest sanctions imposed by the United States and the EU following Russia's annexation of Crimea in March and what the West sees as an effort since to further destabilize Ukraine by backing pro-Russian separatists with troops and arms. The steps are designed to keep up pressure on Russia, which denies sending troops into eastern Ukraine despite what Kiev and its Western backers say is overwhelming evidence to the contrary. Moscow also denies arming the separatists… In July, the United States effectively cut off five Russian financial groups, VTB Bank, Gazprombank, Bank of Moscow ., VEB and Russian Agriculture Bank, from U.S. equity and debt markets by barring U.S. persons from "transacting in, providing financing for, or otherwise dealing in new debt of longer than 90 days maturity or new equity." [Reuters, 9/11/14]

 

  • ·         Gazprom Was Sanctioned By The US To Punish Russia For Their Intervention In Ukraine. “The US dramatically expanded its sanctions against Russia on Friday by adding Gazprom, Europe’s leading energy provider, to the list of targeted companies, as it sought to ratchet up pressure on Moscow to step back from the war in Ukraine. The latest measures targeting energy, financial services and defense industries also included Lukoil, the privately owned oil group, and Sberbank, Russia’s largest bank. The new sanctions go much further than previous moves to punish Russia for its role in the eastern Ukraine insurgency by widening the number of companies targeted. In addition to blocking most major state-owned groups from western capital markets, the US has also tightened restrictions on some of Russia’s largest energy projects, a key engine of its future economic growth.” [Financial Times, 9/13/14]

 

  • ·         The US Sanctioned Lukoil To Punish Russia For The Ukraine Conflict. “There was also surprise that the US had decided to sanction Lukoil, the first private Russian company to be penalized in this way. The oil producer is not tied to President Vladimir Putin and has played no role in the Ukraine conflict.” [Financial Times, 9/13/14]

 

  • ·         Rosneft Was Hit With US Sanctions By Both The US And EU. “ExxonMobil's Russian partner in the Kara Sea was finally hit with economic sanctions by both the U.S. and European Union on Friday as Moscow has shown its inability to cool anti-Kiev militants in eastern Ukraine. Rosneft, Russia's biggest oil state-owned oil company, was banned primarily from financial transactions within the United States, the U.S. Treasury Department laid out yesterday. The European Union's sanctions were similar.  This latest round of sanctions now makes it more difficult for U.S., European and Russian companies to conduct business without first consulting a lawyer. [Forbes, 9/13/14]

 

  • ·         Novatek And Transneft Were Hit With Sanctions By The US. “Although the language of the sanctions against Rosneft stuck to financing, Treasury did impose full-sector sanctions that banned the export of goods, services and technology used in exploration and production of Russian deepwater, Arctic offshore, and shale projects “that have the potential to produce oil”.  This is smack dab in the middle of the Exxon-Rosneft wheelhouse. It also impacts Gazprom, Gazpromneft, Lukoil, Rosneft, and Surgutneftegas. Financial sanctions only apply to Novatek, Gazpromneft, Transneft, and Rosneft.” [Forbes, 9/13/14]

 

  • ·         Treasury Imposed Sanctions On Russian Oil Company Surgutneftegas.  “Treasury has also imposed sanctions that prohibit the exportation of goods, services (not including financial services), or technology in support of exploration or production for Russian deepwater, Arctic offshore, or shale projects that have the potential to produce oil, to five Russian energy companies – Gazprom, Gazprom Neft, Lukoil, Surgutneftegas, and Rosneft – involved in these types of projects.  This measure complements restrictions administered by the Commerce Department and is similar to new EU measures published today.  U.S. persons have until September 26, 2014 to wind down applicable transactions with these entities pursuant to a general license that Treasury’s Office of Foreign Assets Control issued today.” [Treasury Press Release, 9/12/14]

 

$92,000 in ISHARES MSCI

 

Gianforte Owns Over $92,000 In IShares MSCI Russia ETF…

 

[Gianforte Personal Financial Disclosure, 3/17/17]

 

[Yahoo Finance]

…5 Of The 8 Largest Holdings Of The ETF Are Currently Being Sanctioned By The US For Russia’s Actions Toward Ukraine (Sberbank, Gazprom, Lukoil, Novatek, & Transneft)

  • ·         2014: The US Included Sberbank Russia And VTP Bank In Its Sanctions To Punish Russia For Their Intervention In Ukraine. “The United States will take new steps on Friday to limit the access of major Russian banks, including Sberbank, to U.S. debt and equity markets to punish Russia for its intervention in Ukraine, sources familiar with the matter said. The sanctions are timed to coincide with fresh European Union economic penalties, with both sets aimed at the Russian energy, financial and defense sectors. They are the latest sanctions imposed by the United States and the EU following Russia's annexation of Crimea in March and what the West sees as an effort since to further destabilize Ukraine by backing pro-Russian separatists with troops and arms. The steps are designed to keep up pressure on Russia, which denies sending troops into eastern Ukraine despite what Kiev and its Western backers say is overwhelming evidence to the contrary. Moscow also denies arming the separatists… In July, the United States effectively cut off five Russian financial groups, VTB Bank, Gazprombank, Bank of Moscow ., VEB and Russian Agriculture Bank, from U.S. equity and debt markets by barring U.S. persons from "transacting in, providing financing for, or otherwise dealing in new debt of longer than 90 days maturity or new equity." [Reuters, 9/11/14]

 

  • ·         Gazprom Was Sanctioned By The US To Punish Russia For Their Intervention In Ukraine. “The US dramatically expanded its sanctions against Russia on Friday by adding Gazprom, Europe’s leading energy provider, to the list of targeted companies, as it sought to ratchet up pressure on Moscow to step back from the war in Ukraine. The latest measures targeting energy, financial services and defense industries also included Lukoil, the privately owned oil group, and Sberbank, Russia’s largest bank. The new sanctions go much further than previous moves to punish Russia for its role in the eastern Ukraine insurgency by widening the number of companies targeted. In addition to blocking most major state-owned groups from western capital markets, the US has also tightened restrictions on some of Russia’s largest energy projects, a key engine of its future economic growth.” [Financial Times, 9/13/14]

 

  • ·         The US Sanctioned Lukoil To Punish Russia For The Ukraine Conflict. “There was also surprise that the US had decided to sanction Lukoil, the first private Russian company to be penalized in this way. The oil producer is not tied to President Vladimir Putin and has played no role in the Ukraine conflict.” [Financial Times, 9/13/14]

 

  • ·         Novatek And Transneft Were Hit With Sanctions By The US. “Although the language of the sanctions against Rosneft stuck to financing, Treasury did impose full-sector sanctions that banned the export of goods, services and technology used in exploration and production of Russian deepwater, Arctic offshore, and shale projects “that have the potential to produce oil”.  This is smack dab in the middle of the Exxon-Rosneft wheelhouse. It also impacts Gazprom, Gazpromneft, Lukoil, Rosneft, and Surgutneftegas. Financial sanctions only apply to Novatek, Gazpromneft, Transneft, and Rosneft.” [Forbes, 9/13/14]

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