Having warned several weeks ago it would impose sanctions on Russia for its alleged use of the Novichok chemical agent in the UK, on Friday morning the US followed through with the threat when the U.S. released a notice of sanctions, saying they will take effect when published in Federal Register on Aug. 27.
The sanctions will include foreign assistance, arms sales, denial of U.S. government credit through the ExIm bank, other financial assistance, and will remain in place for at least one year and until further notice.
Exceptions include on flight safety, wholly-owned U.S. subsidiaries, space flight - as Russia is a primary supplier of space engines for US rockets - commercial end-users, deemed exports and reexports.
As we discussed before, among the most stringent measures being proposed in Congress are ones that would impose curbs on Russian sovereign debt sales and tougher limits on some of the country's biggest banks as punishment for election meddling.
Plans to impose the sanctions were announced by the Trump administration on Aug. 8 and since the move was fully priced in, despite a small dip in the ruble in kneejerk response, the USDRUB quickly dropped and was trading near session lows amid broad-based weakness in the US dollar.
Separately, speaking to reporters in Kiev, U.S. National Security Adviser John Bolton said the U.S. sanctions against Russia will remain in force "Until there is a required change in Russian behavior" adding that the U.S. doesn't accept Russian meddling in U.S. elections.
Russia strongly opposes NATO expansion towards its western borders and in 2014 annexed Crimea from Ukraine after Viktor Yanukovich, Ukraine's Russia-friendly president, was toppled in a popular revolution.
https://www.zerohedge.com/news/2018-08-24/us-imposes-new-russia-sanctions-will-stay-place-until-change-russian-behavior
The sanctions will include foreign assistance, arms sales, denial of U.S. government credit through the ExIm bank, other financial assistance, and will remain in place for at least one year and until further notice.
Exceptions include on flight safety, wholly-owned U.S. subsidiaries, space flight - as Russia is a primary supplier of space engines for US rockets - commercial end-users, deemed exports and reexports.
As we discussed before, among the most stringent measures being proposed in Congress are ones that would impose curbs on Russian sovereign debt sales and tougher limits on some of the country's biggest banks as punishment for election meddling.
Plans to impose the sanctions were announced by the Trump administration on Aug. 8 and since the move was fully priced in, despite a small dip in the ruble in kneejerk response, the USDRUB quickly dropped and was trading near session lows amid broad-based weakness in the US dollar.
Separately, speaking to reporters in Kiev, U.S. National Security Adviser John Bolton said the U.S. sanctions against Russia will remain in force "Until there is a required change in Russian behavior" adding that the U.S. doesn't accept Russian meddling in U.S. elections.
Russia strongly opposes NATO expansion towards its western borders and in 2014 annexed Crimea from Ukraine after Viktor Yanukovich, Ukraine's Russia-friendly president, was toppled in a popular revolution.
https://www.zerohedge.com/news/2018-08-24/us-imposes-new-russia-sanctions-will-stay-place-until-change-russian-behavior
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