Contents tagged with US sanctions on Russia

  • Media: Russian banks stop issuing Visa and MasterCard in Crimea

    Crimea-based Genbank (part of the Bank of Russia group) announced last week that its support of the Visa and MasterCard payment systems would end as of August 14. It was the last bank in Crimea to issue the cards of the international payment systems, the BBC Russian service notes.

    As of Tuesday, August 14, all Visa and MasterCard operations will no longer work. A Genbank call center employee clarified to Reuters in a phone call that the decision was made in connection with the sanctions placed …

  • Kremlin: Russia might stop using US dollars in oil trade

    Russian finance minister Anton Siluanov did not rule out the possibility of using national currencies instead of the US dollar, he said on Sunday, August 12 on Russian TV. "We should build our policy considering the possible risks that arise from the actions of our American partners,” he stressed.

    The First Deputy Prime Minister also said that Moscow has significantly reduced investments in American assets and gold and foreign currency reserves and will continue this policy in the future. At …

  • New US sanctions may threaten Russia's nuclear industry

    The new USA sanctions bill imposes restrictions on the importation of low-enriched uranium from Russia until 2031 which might affect the Russian state atomic energy corporation Rosatom.

    The newspaper Kommersant reports that this measure may affect the key market of Rosatom. In 2017, Rosatom's Techsnabexport (TENEX), a subsidiary that works mostly with nuclear power plants, received more than 40% of its revenue from exports of low-enriched uranium to the United States.

    Earlier, the USA …

  • U.S. Treasury says it will continue sanctions against Russia and Iran

    The head of the U.S. Department of the Treasury, Steven Mnuchin, assured lawmakers at hearings in the Senate that the ministry under his auspices will continue implementing programs to impose sanctions against Russia and Iran, as reported on the Department of the Treasury’s website.

    The hearings, about the department’s budget for the 2019 fiscal year, were held in the Appropriations Committee. “Budgetary funds will also be used in harmony with the Countering America’s Adversaries Through …

  • USA threatens Russia with new sanctions

    Acting United States Deputy Secretary of the Treasury Sigal Mandelker said that Washington is ready to respond with new sanctions to a full range of "malign activity" by Moscow.

    The speaker did not name specific actions and possible measures, noting only that this concerns elements of a corrupt system, thanks to which the government elites and the oligarchs of the Russian Federation receive a "disproportionate profit."

    "We’re sending a very clear message to Russian oligarchs and elites who …

  • American sanctions against Russian state-owned arms exporter Rosoboronexport go into effect

    Washington has imposed sanctions against Rosoboronexport, accusing it of violating the U.S. nonproliferation of weapons in relation to Iran, North Korea, and Syria.

    JSC Rosoboronexport is the sole state intermediary agency for Russia's exports/imports of defense-related and dual use products, technologies and services

    The decision was made on April 30 and goes into effect on May 9, reported Interfax-Ukraine, citing the U.S. Federal Register.

    In accordance with the decision, no departments or …

  • Ukraine introduces sanctions that mirror US sanctions against Russia

    The National Security and Defense Council (NSDC) has introduced sanctions that mirror US sanctions against Russian companies and citizens for aggression against Ukraine, as reported by the Press Office of the NSDC.

    According to the NSDC’s statement, the National Security and Defense Council held a meeting on Wednesday during which they considered the issue of introducing personal economic and other restrictive measures (sanctions) against legal entities and individuals related to Russian …

  • Deripaska’s companies ask Kremlin for help after falling under US sanctions

    The Ministry of Energy of Russia received a formal request for government support from En+ Group and Rusal who have fallen under US sanctions, TASS reported, citing Deputy Minister Vyacheslav Kravchenko.

    "They have sent us support measures that they require. There are quite a few of them, we are working with them," he said, without specifying which measures the companies are asking for or when they would be enacted. "Rusal made a large number of proposals. There are a lot of them. We are …

  • Kremlin considers helping companies that have been hit by US sanctions

    The Press Secretary of the Russian President, Dmitry Peskov commented on the proposal of the Head of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin to temporarily nationalize Rusal, a Russian company that fell under US sanctions.

    Peskov noted that the Cabinet of Ministers, on behalf of Chairman of the Government Dmitry Medvedev, is engaged in providing possible support to companies who are faced with the pressure of the sanctions. He noted that this topic is " …

  • Lavrov: United States wants to punish thousands of Russians with new sanctions

    The US is trying to “create problems for hundreds of thousands of Russians” by introducing more sanctions, Foreign Minister of Russia Sergey Lavrov stated in an interview with the BBC in response to new possible restrictions against Russia. 

    “They [the US] declare that they will never harm ordinary people—only oligarchs, politicians and the military, which supposedly destabilizes the world. This is a lie,” stated the Russian Foreign Minister.

    According to Lavrov, Washington “does not just …