United States to impose new sanctions on Russian Federation in near future: Treasury Secretary

Belgian Federal Parliament. File

Belgian Federal Parliament. File

"By naming the whole Russian government, presidential administration and all Russian billionaires, the Trump administration has undermined and ridiculed the USA sanctions on Russia", he says.

"This sends a signal that Trump administration is not about to escalate the sanctions program in response to the alleged meddling by Russians in the elections", said William Pomeranz, Russia expert and deputy director of the Wilson Center's Kennan Institute. Mnuchin said "there will be sanctions that come out of this report". "Americans are right to wonder why President Trump acts tough on our allies but won't stand up to Putin's hostile moves".

However, the report is unlikely to lead to any significant changes in the Russian-US relationship, Jaromir Kohlicek, a member of the European Parliament from the Czech Republic, told Sputnik.

The 96 tycoons named in the US list match the list of billionaires published by the Russian edition of Forbes magazine a year ago.

An accompanying report on the effect on Russia's sovereign debt from possible USA sanctions was classified, Sen. "Trump just was pushed to make some statement (without any real consequences for USA)", Kohlicek said. Congress had requested an unclassified version of the report.

"There is not a statutory or regulatory definition of oligarch, so Treasury included the $1 billion threshold as a reasonable number, which is similar to criteria contained in the US Forbes list", Forbes quoted the spokesperson as saying. It triggered a fierce lobbying campaign, with Russia hawks in Congress pushing the administration to include certain names and lobbyists hired by Russian businessmen urging the administration to keep their clients off.

Economic Survey to be presented today as Budget session begins
On the forthcoming session, he said, "We feel the Budget session will be very successful and fruitful". After a recess, Parliament will meet again from March 5 to April 6.

One said that the administration had given Congress a list of 10 deals the US believes will not go forward because the sanctions threat had been effective.

"For now, we will refrain from these steps". 'You would think that Russian Federation, having subverted our elections and trying again to do this - there seems to be an inability by this president and this administration to talk about Russian Federation, ' he said. A number of Russian officials, including Putin and Foreign Minister Sergey Lavrov, have repeatedly refuted the accusations, but the two countries have been struggling to end the crisis in the relations.

Senate Minority Leader Charles Schumer, D-N.Y., a frequent critic of Trump's treatment of Putin and his government, said the timing of the trip was suspicious. The US government's Department of Homeland Security had earlier banned federal agencies from using the Russian company's antivirus products, citing national security concerns. It also has vowed to retaliate, and even turned the allegation of election meddling against the United States by accusing it of interfering with Russia's presidential vote set for March. Rather than deterring Russian misbehavior, the Trump Administration's failure to follow Congress's strong bipartisan intent could further embolden Russian aggression against its neighbors and our North Atlantic Treaty Organisation allies.

"This is an extreme dereliction of duty by President Trump, who seems more intent on undermining the rule of law in this country than standing up to Putin".

But according to one USA source, "the next steps will be for members of Congress and outside groups to ask why this, that, or the other oligarch is not also on our sanctions list".

Congress also asked Treasury to analyze how sanctions would affect Russia's sovereign bonds, which could increase borrowing costs and devalue the ruble.

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