US Congress introduces bill for new sanctions against Russia

The US Congress has introduced a bill for new sanctions against Russia. Anti-Russian measures are being considered in the form of an amendment to a draft law on sanctions against Iran.

It follows from the document that under the sanctions, the financing period for Russian banks under sanctions could be limited from 90 to 14 days.

Additionally, US companies and individuals will be banned from "all transactions involving the provision of financing and other business relationships involving a new debt for a period longer than 14 days."

Furthermore, it proposes to limit the terms of financing for Russian energy companies.

US Companies and individuals will be banned from "all transactions involving the provision of financing and other business relationships involving a new debt for a period longer than 30 days."

The Senate is currently considering several bills regarding restrictions on Russia, in particular concerning sanctions against the defense and energy sectors of the country's economy.

Voting for or against the new measures will be held in the Senate on June 15. The House of Representatives should subsequently approve the sanctions, followed by the White House after.

Earlier it was reported that the US Senate had agreed to tighten sanctions against Russia as a response to the alleged interference of Moscow in the elections in the US and its activity in the Middle East.

The Fitch Credit agency said that sanctions could negatively affect the credit rating of Russia.

Russia's Sovereign ratings may experience downward pressure if the US extends sanctions against the country, believes James McCormack, head of the Fitch's Sovereign Ratings Department.

 "If the sanctions create new problems for structures other than corporations and banks, [or] if the sanctions are strengthened and affect the state directly," Fitch will view this development as a negative factor for Russia's ratings, Bloomberg quotes the expert as saying.

At the same time, according to McCormack, the fact that Russia is constantly on the political agenda in the United States complicates the task of forecasting the further development of the situation regarding sanctions.

In turn, rising oil prices and the easing of sanctions could contribute to a rise in Russia's ratings, said the expert.

  Sanctions on Russia, USA

Comments

Please visit out Twitter account for updates on the situation in Ukraine.