United States slaps sanctions on Russian oligarchs

Apr 08, 2018, 01:46
United States slaps sanctions on Russian oligarchs

The assets of all 24 people from Russian Federation and 15 various organizations that fall under the US sanctions and under US jurisdiction have been blocked, and American entities are banned from dealing with them, according to the US Treasury Department. "Of course, we will not leave the current and any new anti-Russian attack without a tough response".

Shares in aluminum producer Rusal were down 2.2 per cent on Moscow's exchange after the company was named on the sanctions list. Other companies that were put on the list include an agriculture company, Agroholding Kuban; one of the largest diversified industrial groups in Russia, the Basic Element; also listed are a vehicle, train and plane producer, Russian Cars (Russkie Mashiny).

The US Department of Treasury announced the sanctions against the Russian business entities, individuals and government officials for their alleged "worldwide malign activity".

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"The Russian government operates for the disproportionate benefit of oligarchs and government elites", Treasury Secretary Steve Mnuchin said in a statement.

We recall that on Friday, April 6, the United States imposed new sanctions against a number of Russian oligarchs and companies. In total, 24 Russians and 14 entities were put on the list. Some high-ranking state officials, including including Interior Minister Vladimir Kolokoltsev and ex-FSB head Nikolay Patrushev, were also put on the list. Some Russian lawmakers have already spoken about a possible "asymmetric response" that could target the United States both politically and economically. "We are in frequent communication with USA allies, particularly in Europe and have been committed throughout this process to making sure that key allies are aware of the decisions that are being made, what the next steps are, and of course we're also taking steps in our engagements with them to see and mitigate any unintended consequences", a senior administration official said in a press briefing on Friday.

The sanctions could potentially hurt the Russian economy, especially the financial and energy sectors, and are part of Washington's effort to hold Russia to account for allegedly interfering in the election, which Moscow denies. "Under the external pressure, the [Russian] nation has always [rallied] around its leader", the statement said.

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