Us curbs on Russian banks would be an act of economic warfare – the Russian Prime Minister

  • Us curbs on Russian banks would be an act of economic warfare – the Russian Prime Minister
    Independent.t. E.
    Russia will consider any U.S. action to restrict the activities of Russian banks and their foreign currency transactions, a Declaration of economic war, Prime Minister Dmitry Medvedev said on Friday.
    https://www.independent.ie/business/world/us-curbs-on-russian-banks-would-be-act-of-economic-war-russian-pm-37202908.html
    https://www.independent.ie/incoming/article37202911.ece/209b8/AUTOCROP/h342/2017-11%206450%20INT_ED5_S01%20Read-Only.jpg

  • Email

Russia will consider any U.S. action to restrict the activities of Russian banks and their foreign currency transactions, a Declaration of economic war, Prime Minister Dmitry Medvedev said on Friday.

The United States announced a new round of sanctions on Wednesday, focused on Russia, which pushed the ruble to two-year low and caused a broad sell due to fears of Russia were locked in a spiral of never-ending sanctions.

Separate legislation introduced last week in the form of a draft at the Republican and democratic senators proposing to introduce restrictions on the work of several Russian state banks in the United States and restrictions on their use of the dollar.

Medvedev said Moscow will make economic, political or other retaliatory measures against the US if Washington targeted Russian banks.

“I would not like to comment on the negotiations on future sanctions, but I can say one thing: if a pan of banking operations or their application in a particular currency in a way, one could clearly call it a Declaration of economic war,” – said Medvedev.

“And it would be necessary, it would be necessary to economically react to this war, politically, or, if necessary, by other means. And our American friends must understand it,” he said, speaking on a trip to the Russian far East.

The fate of the bill he was referring to are not certain.

The full Congress will not return to Washington until September, and even then, the assistants of the Congress said they did not expect that the measure will pass in full volume.

It is difficult to assess in advance, they said it was more likely that only some of its provisions can be included as amendments to another law, for example, the spending bill Congress must pass before 30 September to prevent a government shutdown.

Online Business Classes