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Germany Sought Energy Exemption in Russia Finance Sanctions

  • Documents show Berlin concerned about hit to energy supplies
  • U.S. pushing for measures to deter any Russian move on Ukraine
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The German government has pushed for an exemption for the energy sector if there is a move to block Russian banks from clearing U.S. dollar transactions, according to documents seen by Bloomberg.

People familiar with recent discussions said other major western European nations hold similar views. One official said that conversations since the documents were circulated suggest the exemption is likely to be part of a final package of penalties agreed with the U.S. that would be deployed in the event that Moscow invaded Ukraine.