Trump holds off on new Russian Federation sanctions By

Rosneft CEO Igor Sechin and Gazprom CEO Alexei Miller

Treasury Secretary Steven Mnuchin said on Tuesday: "There will be sanctions that come out of this (oligarch) report".

"We have spent a considerable amount of time and energy on engaging with partners, with allies, with private industry explaining what Section 231 [of the Countering America's Adversaries Through Sanctions Act] (CAATSA) meant".

Russian oligarchs have reportedly lost $1.1 billion after the U.S. Treasury Department released the highly anticipated "Kremlin List" in retaliation for alleged Russian election meddling.

Leonid Bershidsky, a former editorial director and publisher of Forbes Russia, wrote this in a column for Bloomberg View: "I'm flattered that the US government chose it as an unassailably authoritative source on who counts as an oligarch in Russia". He is also part of President Putin's inner circle.

The 65-year-old Russian leader - who spoke before the US Treasury said it would act on its list "in the near future - said the US move would further worsen ties. The next time Putin does something outrageous like bombing civilians in Syria or hacking elections, there will be huge political pressure in the United States to sanction someone and this list will be the first port of call".

Putin said the Kremlin list was a blow to not only the government and business circles, but to the entire country.

Those sectors already have been sanctioned for their alleged role in the US presidential election.

"We'll see how the events will develop but I think neither me nor my colleagues will feel any consequences", he said.

Republican Senator Bob Corker, chairman of the Senate Foreign Relations Committee, said he believed the Trump administration was working in good faith, but added he was "committed" to applying any pressure needed to ensure further implementation of the sanctions law.

RBK said it was impossible to prove exactly how the U.S. list had affected the wealthy Russians, some of whom experienced an upturn in their fortunes; Alisher Usmanov, who owns a large stake in Arsenal football club, was worth $16m more after its publication, according to the newspaper.

This is not a sanctions list and no restrictions are slapped on those mentioned in the document, the Treasury Department said.

The law calls for the list to categorize "indices of corruption", listing political and business figures by "their closeness to the Russian regime and their net worth", including the assets they hold outside Russia.

Mnuchin said the goal was not to levy sanctions by the deadline for producing the report but a review of the classified section of the report could provide more information on the issue.

The list was required by a law passed by Congress past year to punish Russian Federation for meddling in the 2016 USA election.

"Since the enactment of the ... legislation, we estimate that foreign governments have abandoned planned or announced purchases of several billion dollars in Russian defense acquisitions", she said.

Putin noted sarcastically that his name isn't on the list, saying of the omission: "It hurts".

Related News:

  • Britain's Capita to raise cash after cutting profit forecasts

    Britain's Capita to raise cash after cutting profit forecasts

    Speaking after the announcement, Mr Lewis said he had identified a "small number" of businesses that could be offloaded. In a statement , the firm's chief executive Jonathan Lewis said "significant change" to the business was required.
    South Korea just

    South Korea just "put salt on the wounds" of Bitcoin investors

    The legislation seeks to tackle money laundering and to bring the space in line with banks' KYC (know your customer) obligations. The digital currency market is extending its losses, with all the major cryptocurrencies on a broad sell-off.
    Is the monetary policy debate over — Economic Survey

    Is the monetary policy debate over — Economic Survey

    FTAs on e-Tourist Visa grew by 143 per cent to 10.8 lakh in 2016, and further grew by 57.2 per cent to 17.0 lakh during 2017. He added that there is a need to see why the Indian economy de-coupled from the rest of the economy over 3-4 quarters.
  • Google completes $1.1 billion acquisition of HTC hardware team members

    Google completes $1.1 billion acquisition of HTC hardware team members

    It means that Google now owns a major chunk of HTC, and soon all the HTC employees under the deal will be joining Google. They all will stay in Taiwan as Taipei is going to be the company's largest engineering hub in the Asia-Pacific region.
    Xerox cedes control to Fujifilm in $18 billion deal

    Xerox cedes control to Fujifilm in $18 billion deal

    Current Xerox CEO Jeff Jacobson will continue lead the company, while Fujifilm CEO Shigetaka Komori will serve as chairman. They established Fuji Xerox in 1962 as a 50-50 joint venture, with Fujifilm increasing its stake to 75% in 2001.
    Where can a student draw inspiration from?

    Where can a student draw inspiration from?

    Travel the right way If you have a few hours of rest, it’s better to have a walk than to sit in front of TV or your phone. Plan your actions the right way If you feel no desire to do anything, it’s time to plan your day or even the whole week.
  • John Wall out 6-8 weeks with knee injury

    John Wall out 6-8 weeks with knee injury

    If Wall misses exactly six weeks, he could return on March 13 in a home game against the Minnesota Timberwolves. Parker also performed two knee surgeries on Wall in May 2016, according to ESPN .
    Pfizer, Inc. (NASDAQ:PFE) To Release Earnings

    Pfizer, Inc. (NASDAQ:PFE) To Release Earnings

    Mitsubishi Ufj Trust & has invested 0.03% in Sensata Technologies Holding N.V. (NYSE:ST). (NYSE: PFE ) for 3.00 million shares. Barnett And Comm Inc holds 0.04% in Pfizer Inc . ( PFE ) traded down $1.01 during trading on Tuesday, hitting $38.01.
    Carrie Fisher wins posthumous Grammy

    Carrie Fisher wins posthumous Grammy

    The now award-winning audio book, narrated by the actress, might be the best way to experience it. Weeks earlier, Hamill opened up struggling to cope with losing his longtime costar.
  • Jaguar's I-Pace set to debut in Geneva in March

    Jaguar's I-Pace set to debut in Geneva in March

    No word on pricing at this stage, but we should find out all the spec and performance details ahead of the Geneva Motor Show . This is not at fast as the Tesla Supercharger but will still offer a decent option for Jag drivers on the go.
    Floodwaters hit peak in Paris

    Floodwaters hit peak in Paris

    Flooding in Paris swelled the Seine river to almost 20 feet on Monday - a level substantially higher than its normal water line. Several more communities downstream west of Paris , toward Normandy and the English Channel , are also now under threat.
    BBC to propose new pay framework for presenters following gender pay row

    BBC to propose new pay framework for presenters following gender pay row

    Although the disparity in the news department was not as great, three news presenters earned over £500,000 and all three were men. Ahead of Tuesday's report , BBC Women submitted evidence to a parliamentary committee looking into issues of pay and equality.


Most liked

UN, African Union leaders urge more global cooperation
AU Commission Chairman Moussa Faki reacted to the accusations by assuring the press that he had seen "no evidence of espionage in this building".

Will simplify GST structure after coming to power: Rahul Gandhi
Rahul Gandhi invited women to join Congress party so that their voices are heard and they find greater representation in politics. Dressed in blue denim pants and a black jacket, he urged the youth to love and respect each other to make the country strong.

Grammys: Bruno Mars stars; ratings dip
Mars previously won Record of the Year two years ago as the featured artist on Mark Ronson's equally giddy "Uptown Funk". He beat out the global sensation " Despacito " as well as songs by rappers Jay-Z, Kendrick Lamar and Childish Gambino .

Budget session: President Kovind hopes for passage of triple talaq bill
Kovind said his government was committed to connect all villages with roads and was making efforts to double farm income by 2022. In addition, under the "National AYUSH Mission", traditional methods of treatment, such as Yoga and Ayurveda are being promoted.