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The Russian Ministry of Finance discloses Russia's countermeasures towards potential aggressive sanctions from the U.S.

U.S. Sanctions Could Prompt Russia to Expand Export of Prohibited Goods to America, According to a Department Deputy Director's Statements.

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In response to potential harsh sanctions from the U.S., Russia plans to expand its export of goods...
In response to potential harsh sanctions from the U.S., Russia plans to expand its export of goods previously restricted for sale to the U.S., as announced by the Deputy Director of the Department.

The Russian Ministry of Finance discloses Russia's countermeasures towards potential aggressive sanctions from the U.S.

Revamped Rewrite:

Up-to-Date Report: Potential Sanctions on Russia from U.S. Lawmakers

Sanctions Showdown

Congress bigwigs Lindsey Graham (SC Republican) and Richard Blumenthal (CT Democrat) tossed a new bill onto the table at the start of April. This legislation threatens to impose heavy sanctions on Russia if it fails to sign a truce with Ukraine. Crucial aspects of this bill include:

  • Tariffs Galore: Expect a whopping 500% tax hike on foreign imports of oil, gas, uranium, and other goods from Russia, bought by nations that dared to defy Washington.
  • Russian Finance in the Crosshairs: Extended limitations on financial activities involving Russian sanctioned entities, and Russian sovereign debt.

Lindsey Graham himself declared these sanctions would cripple Russia's economy.

Russia's Take

A representative from the Russian Finance Ministry didn't mince words, stating that the U.S. has historically antagonized nations willing to cooperate with Russia, and questioning if the sanctions would garner support among American lawmakers.

Dmitry Kirillov, a Russian source, reported that the current U.S.-Russia trade turnover amounts to $3.5 billion, the lowest since 1992. Although Russia exports non-sanctioned products like fertilizers, nuclear fuel, and platinum group metals to the U.S., some believe the U.S. has yet to impose tariffs due to strained bilateral relations.

European Leaders' stance

On May 10, European leaders warned Russia of further sanctions if it continues to deny a 30-day ceasefire. Dmitry Peskov, the Russian President's press secretary, dismissed these threats, stating that Russia has learned to live with sanctions, and repeatedly emphasized that the "language of ultimatums" gets you nowhere.

Ready for Talks

Following Kyiv's commitment to a truce, Russian President Vladimir Putin proposed a face-off between the two nations in Istanbul on May 15 for negotiations. The U.S. President encouraged Ukraine to immediately accept this ceasefire meeting, hinting that he could also visit Turkey. Ukrainian President Volodymyr Zelensky confirmed his attendance, inviting Putin to join him in Istanbul. Insiders suggest that European leaders will hold off on imposing new sanctions on Russia until the outcome of the Istanbul talks becomes clear.

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Tags:

  1. The bill proposed by Senators Lindsey Graham and Richard Blumenthal in April targets Russia's finance sector, proposing extended limitations on financial activities involving Russian sanctioned entities and Russian sovereign debt, as part of a potential sanctions package.
  2. European leaders have cautioned Russia that further sanctions may be imposed if it continues to disregard a 30-day ceasefire, while the U.S. has expressed readiness for talks in Istanbul, with the possibility ofPresident Biden attending. However, the potential imposition of new sanctions may be delayed until the outcome of the Istanbul talks becomes clear, as hinted by insiders.

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