US to ‘Shoot Itself in the Foot’ With Sanctions on Russia’s Nat’l Debt – Fin Min

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US Senators on Wednesday introduced a bill that if adopted would lead to new sanctions against Russia’s banking and energy sector, as well as against Russia’s sovereign debt.

Russia is ready to respond to new sanctions if they are introduced, including supporting state banks if restrictions are applied to them, Russia’s Finance Minister Anton Siluanov said.

“If we are talking about debt, I have repeatedly said that in the first place, indeed, we have seen a reverse interest in our debt from foreign investors. This will hit foreigners first. They will shoot themselves in the foot”, Siluanov said.

“We have already passed through several stages of such sanctions. Of course, all of them are unpleasant, but on the other hand, we have created the necessary basis to be able to react to them, to be ready”, he added.

Earlier, commenting on possible new economic sanctions against Russia, Russian Foreign Minister Sergei Lavrov said that the country doesn’t discuss sanctions with anyone and is focused on developing its economy so it does not depend on the whims of other states.

On Wednesday, US lawmakers from both the Republican and Democratic parties introduced a bill envisioning sweeping sanctions on Russia’s energy and banking sectors, as well as the country’s sovereign debt.

If adopted by Congress, the legislation would require President Donald Trump’s administration to impose two sets of restrictions, one in response to Moscow’s alleged efforts to undermine democracy abroad, and another wave of designations in response to Russia’s activities in Ukraine. Moscow has repeatedly denied the charges on these topics.

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