No. 101 NAI DFA Secretary’s Files P12/8
ROME, 20 June 1941
General opinion here is that Russo-German relations have reached an extremely critical condition, but that it would be premature to draw conclusions, as situation may change from hour to hour. Germany is reported, on good authority, to be short of petrol, wheat and other raw material that Russia has in abundance and to be prepared to secure them by force if necessary. The implications are obvious.
Axis reactions to blocking of their funds is milder than was anticipated.