They took the loan back in 2013 when the bank wasn’t sanctioned, so it’s still legal. But they suspended their projects in 2015 because those became too pricey and it made sense to wait out. They likely needed quite a lot of imported tech and materials but the loan was in rubles and devalued to about half of its initial value due to falling oil prices (not everything is sanctions or conspiracy). Putin can use hackers (and hookers) but he can’t order ruble to go up. If Trump wanted to proceed, he had to get his own loan.
I think, Cohen lied because he didn’t want to tell if banks wouldn’t lend to Trump, it would’ve been embarrassing.
But then the Agalarovs brokered another deal for Trump.
I’m trying to explain that I see none of it as political, similar to “Trump colluded with the Chinese government”. It’s more of a collusion with mafia, but with a mafia state where government capacities are merely used for enrichment and “fixing problems”. Those people are not working for the Kremlin, they ARE “the Kremlin”.