HR.5428. What Is Said In New Draft Law On Sanctions Against Russia

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HR.5428. What is said in the new draft law on sanctions against Russia

10 April 2018

·         Valentin Baryshnikov


Capitol

Capitol

The bill on imposing sanctions against the people responsible for the attack on Sergei and Julia Skripal …

The bill can be shortly called the Act “Together with Great Britain – Against Russia’s Violations” …

Proceeding from the understanding by Congress that

1.    Attempts by the Russian government to commit murders on British territory are immoral and violate international law.

2.   The United States expresses its full solidarity with the British Government and the people in response to this violation.

3.   Russia’s aggression must be countered with force and determination, using, among other things, sanctions to deter Russian attacks on dissidents, expatriates and democratic activists in the future.

… Not later than 60 days after the adoption of this law, the president must impose sanctions on any person who, according to the president,

1.    consciously participated, provided material support, acted on behalf of or as an agent or facilitated any person who attacked Sergei and Julia Skripal; or

2.   is an official or agent of the Russian government and, consciously, before or after the adoption of this law, provided material support, acted on behalf of or as an agent or assisted the Russian government in killing, attempting or attacking outside of Russia against any expatriate, dissident or citizen of another country.

3.   The President must submit to the Congress, in coordination with the introduction of sanctions, a report with a list of all persons identified as participants in the actions that entailed sanctions …

Ban on transactions related to the new Russian sovereign debt.

Not later than 90 days after the imposition of sanctions, the president must –

1.    issue a ban for US citizens and residents, as well as legitimately US-based organizations, to participate in transactions, the provision of funding, or any other type of action related to Russian sovereign debt committed more than 180 days after the date of the imposition of sanctions;

2.   use the authority given to the president by the Act on International Emergency Economic Powers to block and prohibit transactions of any property or participation in the property of the financial institutions listed below if the property is in the United States or in the possession or control of US citizens and residents, and lawfully based in the US organizations.

Under the Russian sovereign debt in this bill is understood –

1.    securities of the Central Bank of Russia, the Russian National Wealth Fund, the Russian Federal Treasury, or agents and affiliates of these institutions, with a maturity of more than 14 days;

2.   new international agreements on swap exchange concluded with the Central Bank of Russia, the Russian National Wealth Fund, the Russian Federal Treasury, if the duration of the agreement exceeds 14 days;

3.   any other financial instruments, the duration or maturity of which is more than 14 days, which the president will determine as Russia’s sovereign debt or which were issued by one of the banks listed below:

·         Sberbank;

·         VTB Bank;

·         Gazprombank;

·         Bank of Moscow;

·         Rosselkhozbank;

·         Promsvyazbank;

·         Vnesheconombank.

These are excerpts from the bill HR5428 , introduced to the US Congress by Congressman-Democrat Joaquin Castro in conjunction with Republican Congressman Michael Turner.

In the statement, Castro said:

“I am pleased to see that the Trump administration has announced new Russian sanctions against those close to President Putin and many people who are also the target of the investigation about a possible collusion between Trump’s campaign and Russia.These sanctions send a clear signal to Putin that his current behavior will be I hope this round of sanctions will be just one of many more, given the scale of Russia’s dishonorable intervention in the presidential election of 2016, the government-sanctioned poisoning of Yuliya and Sergei Skripal in Britain last month and the already launched attack on our upcoming elections. “

Last Friday, the United States imposed sanctions against large Russian businessmen, high-ranking officials and against several Russian companies – on the basis of the Act on Countering America’s Opposition by Sanctions, adopted last year as Russia’s response to interference in elections and Russian military actions in Ukraine and in Syria. “Russia denies its involvement in the poisoning of Sergei and Yulia Skripal, as well as its interference in the elections in the United States.

The imposition of sanctions against Russia resulted in the depreciation of the ruble and quotations on the Russian stock exchange.

As The Hill notes , congressmen from both parties largely agree that the Kremlin was trying to intervene in the 2016 elections and is likely to try again during the “interim” elections to Congress this autumn.

The bill, in order to enter into force, must be approved by the Senate and the House of Representatives of Congress, and signed by the president.

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