Introduced to Congress a bill designed to keep Russia from interfering in elections in the United States is likely to be re-written to minimise unintended consequences for the world economy, which can lead to the automatic imposition of sanctions against sovereign debt and energy.
About it reports Bloomberg News.
“We want the economic damage was most limited Russian economy and the side effects were minimal,” said democratic Senator Chris van HOLLEN.
The bill, introduced by van Hellenon and his Republican colleague Marco Rubio, provides for the imposition of sanctions if the Director of National intelligence Dan Coates confirms that Moscow interfered in the November elections in the United States.
The document calls for the imposition of sanctions against a new sovereign debt of Russia despite the fact that the US Treasury warned in February that such measures may adversely affect global financial markets. The bill also contains a prohibition on certain transactions related to the Russian energy companies including Gazprom and Rosneft. It also provides for sanctions against Russian banks, mining companies and officials.
According to Bloomberg, sources in the Finance Ministry say that the sanctions against the Russian sovereign debt market will have a negative impact on Russian economic growth, will increase the burden on the banking sector and “will lead to retaliation of Russia against American interests.” Foreign investors own more than a third of local and international sovereign bonds of Russia.
Van HOLLEN did not discuss possible changes to the bill, noting, however, that one of the possible amendments would enable the administration of Donald trump to make exemptions from some, if not all of the sanctions based on national security concerns, reports the news Agency.
“We are studying a number of options, and nothing final has not yet been resolved, – quotes Bloomberg words of the Senator. – While the author discusses such ideas.”
The prospects of approval of the draft van HOLLEN and Rubio remain uncertain, although the majority leader in the Senate Mitch McConnell said the chamber may take it into consideration and charge to the committees on international relations and banking to hold a hearing, Bloomberg News reported.
The Chairman of the Senate Committee on foreign relations Bob Corker last week joked that the bill in its original form can cause Russia more significant damage than the “tactical nuclear weapons”.