Senators unveil new Russian Federation sanctions package

Under CAATSA sanctions will kick off on countries that purchase significant military equipment from Russia

Senators unveil new Russian Federation sanctions package

The bill, among other things, provides for tougher sanctions against energy and financial sectors of Russia and its oligarchs and state-owned enterprises, the application of sanctions against the Russian sovereign debt.

Congress has introduced a bipartisan bill aimed at implementing harsh sanctions on Russian Federation and President Vladimir Putin.

It also expresses strong support for North Atlantic Treaty Organisation and would require that two-thirds of the Senate to vote in favor of any effort to leave the alliance.

There is no timeline for a vote on the bill yet, but reportedly some senators are also lining up to offer amendments adding yet more sanctions or other measures against Russian Federation.

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Russian markets reacted quickly to the measure, with the rouble slumping toward two-week lows.

Lindsey Graham, R-S.C., who said that the current sanctions regime has "failed to deter Russia" from intervening in November midterm elections and that more action was needed to keep Moscow in check.

Several provisions of the measure introduced on Thursday sought to toughen that law.

Republicans and Democrats united last month in repudiating Trump's failure to publicly condemn Russian President Vladimir Putin for interfering in the 2016 US elections.

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Fin janvier, le président américain s'était dit prêt à répondre sous serment tout en réaffirmant n'avoir rien fait d'illégal. Si Michael Cohen n'a pas apporté d'autres preuves que son témoignage, il met dans l'embarras Donald Trump .

In the Senate, Republicans Lindsey Graham of SC and John McCain of Arizona, along with Democrats Bob Menendez of New Jersey, Ben Cardin of Maryland, and Jean Shaheen of New Hampshire introduced the the Defending American Security from Kremlin Aggression Act of 2018 together.

Aides to the Senate's Republican Majority leader, Mitch McConnell, referred a question about the bill to the Senate Banking Committee, which has jurisdiction over sanctions matters.

"It is once again up to Congress to strengthen America's resolve against Vladimir Putin's pattern of corroding democratic institutions and values around the world, a direct and growing threat to US national security", said Senator Cardin, a senior member of the Senate Foreign Relations Committee and one of the co-authors and lead negotiators of the Countering America's Adversaries Through Sanctions Act (CAATSA). Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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