US looks into impose stiff sanctions on Russia!

US looks into impose stiff sanctions on Russia!

5 December 2019 01:20 pm

With consideration to Russia's supressive attitude towards Ukraine and interference on elections, the United States is looking into legislation to impose stiff new sanctions on Russia, foreign reports disclosed. Accordingly, the Senate Foreign Relations Committee of the United States has focused on imposing stiff sanctions on Russia.

A Senate spokeswoman said the Republican-led committee would hold a business meeting on December 11 to focus on legislation, including the Defending American Security from Kremlin Aggression Act, also known as DASKA.

The bill was introduced on February by Republican Senator Lindsey Graham and Democrat Bob Menendez, along with other foreign affairs committee panel.

The goals of these proposed sanctions include:

  1. Russian banks which trying to interfere in foreign elections
  2. Cyber space in the country
  3. New sovereign debt
  4. People who directly or indirectly facilitate illegal and corrupt activities on behalf of Russian President Vladimir Putin

In addition, the sanctions have brought a lot of attention to Russia's oil and gas sectors, foreign media indicated.

About 40% of Russia's state revenues are focused on the oil and fuels sector, which affects many sectors, including allowing people who provide goods, services or financing to support the country's crude oil development.

Chavini Abhayasinghe