U.S. Curbs on Russian Banks Would Be Act Of Economic War - PM
By Andrey Ostroukh,
Tom Balmforth, and Patrica Zengerle
August 10, 2018 "Information
Clearing House"
- MOSCOW (Reuters) -
Russia would consider any U.S. move to
curb the operations of Russian banks or
their foreign currency dealings a
declaration of economic war, Prime
Minister Dmitry Medvedev said on Friday.
The United States announced a new round
of sanctions on Wednesday targeting
Russia that pushed the rouble to
two-year lows and sparked a wider
sell-off over fears Russia was locked in
a spiral of never-ending sanctions.
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Separate legislation
introduced last week in draft form by
Republican and Democratic senators
proposes curbs on the operations of
several state-owned Russian banks in the
United States and restrictions on their
use of the dollar.
Medvedev said Moscow would take
economic, political or other retaliatory
measures against the United States if
Washington targeted Russian banks.
"I would not like to comment on talks
about future sanctions, but I can say
one thing: If some ban on banks'
operations or on their use of one or
another currency follows, it would be
possible to clearly call it a
declaration of economic war," said
Medvedev.
"And it would be necessary, it would be
needed to react to this war
economically, politically, or, if
needed, by other means. And our American
friends need to understand this," he
said, speaking on a trip to the Russian
Far East.
The fate of the bill he was referring to
is not certain.
The full U.S. Congress will not be back
in Washington until September, and even
then, congressional aides said they did
not expect the measure would pass in its
entirety.
While it was difficult to assess so far
in advance, they said it was more likely
that only some of its provisions would
be included as amendments in another
piece of legislation, such as a spending
bill Congress must pass before Sept. 30
to prevent a government shutdown.
(Reporting by Andrey Ostroukh and Tom
Balmforth in Moscow and Patrica Zengerle
in Washington; Editing by Andrew Osborn)
This article was originally published by "Reuters" -
The views expressed in this article are solely those of the author and do not necessarily reflect the opinions of Information Clearing House.
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