US sanction bill targets 2 of 5 largest Russian banks, state debt

WASHINGTON, Apr 3 (PRIME) -- A new U.S. anti-Russian sanction bill will block assets of at least two out of the country’s five largest banks, and high-ranking officials and oligarchs as well as a ban on energy investment and investment in sovereign debt, as seen by PRIME in the bill on Wednesday.

In the bill, Senators Chris Van Hollen and Marco Rubio suggest introduction of sanctions against two or more Russian banks from a list comprising Sberbank, VTB Bank, VEB.RF, Russian Agricultural Bank, and Gazprombank. The list of restrictions includes a freeze of their assets in the U.S. or a softer measure like toughening of conditions or a ban on opening accounts.

The senators also want U.S. President Donald Trump to prohibit all new investment of the U.S. or U.S. firms in the Russian energy sector and in Russian energy companies, and to block assets of foreigners who invest in the Russian energy industry.

The bill also sees prohibition of operations with Russia’s sovereign debt, including securities and federal bonds issued during the time the bill was coming in force or after that. The measure should also cover any company controlled by Russia and the bonds it issues after the bill comes into force.

Besides that, the bill suggests blocking assets of high-ranking Russian politicians and oligarchs involved in the alleged meddling with the U.S. elections, and a ban for them to enter the U.S.

The sanctions should also prohibit all assets and transactions of companies connected with the Russian military and intelligence.

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