Categories: Market Overview

U.S. officials threaten more economic pain if Russia does not change

Washington is prepared to impose more economic pain on Russia if it does not change its behavior, Trump administration officials told a Senate hearing on Tuesday, as U.S. lawmakers pushed for stronger measures to counteract what they see as “malign” Russian activities. U.S. President Donald Trump has repeatedly said he would like better ties with Moscow, but although he met Russian President Vladimir Putin last month, relations between the two countries have come under further strain as Washington has imposed new sanctions.

U.S. lawmakers have called for even more action – including what one senator called a new sanctions package “from hell” – to punish Russia for actions including its annexation of Crimea, involvement in the Syrian civil war and what U.S. intelligence agencies describe as cyberattacks seeking to influence U.S. elections.

Moscow has repeatedly denied attempting to influence U.S. elections, including the 2016 presidential vote that brought Trump into office. At a separate Senate hearing on Tuesday, Assistant Secretary of State Wess Mitchell told the Foreign Relations Committee that concern about sanctions has cost Russia $8 to $10 billion in arms deals. Separately on Tuesday, the Treasury Department imposed new sanctions on two Russians, one Russian company and one Slovakian firm for what it said were their actions to help another Russian company avoid sanctions targeting Russia’s malicious cyber-related activities. The United States also announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of U.N. restrictions.

U.S. officials threaten more economic pain if Russia does not change, Reuters, Aug 21
The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team
Tags: aud

Recent Posts

CHFJPY Wave Analysis 8 November 2024

- CHFJPY broke daily up channel - Likely to fall to support level 174.00 CHFJPY…

2 days ago

NZDJPY Wave Analysis 8 November 2024

- NZDJPY reversed from resistance level 92.00 - Likely to fall to support level 90.40…

2 days ago

Key Events for the Week Ahead

Political developments will impact financial markets, with the focus on policies from Trump's administration and…

2 days ago

The impact of the Fed’s decisions on the Dollar

The Federal Reserve cut the key rate, causing minimal market reaction. The market predicts a…

2 days ago

Prospects for gold correction

Gold has experienced a correction, losing over 5% since late October. Further declines are expected,…

2 days ago

The crypto market stands on top

The cryptocurrency market is consolidating near a $2.5 trillion capitalisation level, with Bitcoin stabilising near…

3 days ago

This website uses cookies