Russia: New US Sanctions a 'Declaration of Economic War'

Russia: New US Sanctions a 'Declaration of Economic War'

Russia: New US Sanctions a 'Declaration of Economic War'

Russian and US Presidents, Vladimir Putin and Donald Trump, held their first full-format talks in the Finnish capital city Helsinki on July 16.

Russian Foreign Minister Sergey Lavrov has held a telephone talk with his USA counterpart Michael Pompeo on Friday, pointing out that Moscow strictly rejected new United States sanctions, the Russian Foreign Ministry said in a statement.

"The Russian side will work on developing retaliatory measures", ministry spokeswoman Maria Zakharova told journalists.

Moscow's strategy of trying to improve battered U.S. -Russia ties by attempting to build bridges with President Donald Trump is backfiring after U.S. lawmakers launched a new sanctions drive last week because they fear Trump is too soft on Russian Federation.

The sanctions against Vladimir Putin's Russian Federation target U.S. exports of sensitive goods relating to national security.

The second tranche, which can be selectively activated after 90 days if Moscow fails to provide "reliable assurances" it will no longer use chemical weapons and blocks on-site inspections, is potentially more serious.

The Trump administration announced Wednesday that it was slapping chemical and biological weapons sanctions on Russia for using a nerve agent on former Russian spy Sergei Skripal and his daughter, Yulia, in Britain on March 4.

U.S. -Russian relations have soured in recent months over the White House's new tariffs on foreign aluminum and an investigation into Moscow's alleged hacking and disinformation campaign during the 2016 U.S. presidential election.

This week, Britain's the Guardian newspaper reported London is preparing to ask Moscow to extradite two Russian citizens suspected of carrying out the Salisbury nerve agent attack.

"And this war must be responsive - economic means, political means, and, if necessary, by other methods".

Britain said it welcomed the United States response to the chemical attack in Salisbury, the sleepy English town where the Skripals were poisoned. It was an allegation Russian Federation has repeatedly denied.

Gilbert Doctorow, a Brussels-based Russian affairs analyst, says that the U.S., particularly with the second proposed round, is threatening to "go for the jugular" in a way it has not during any of the previous acts of sanction dating back to the Crimea secession in 2014. But if new sanctions proposed by Congress and the State Department are implemented in full, something that remains uncertain, some economists fear growth would be nearly cut to zero in future.

"It's a significant step, but not an overwhelming one", said Daniel Fried, a veteran State Department official who served as chief U.S.co-ordinator for sanctions policy until he retired a year ago.

Vladimir Vasilyev, a senior researcher at the Institute of the U.S. and Canada in Moscow, said the Americans were strengthening sanctions "from an element of pressure into an ultimatum". Analysts described the Russian market as stunned by the weight of the new sanctions. As Politico notes, in March House Foreign Affairs Committee Chairman Ed Royce formally requested that the Trump administration conduct a probe to determine if Russian Federation should face sanctions over the nerve attack.

Medvedev said the sanctions are an attempt to "limit the political power" of Russian Federation by the US.

Related news