International

New US sanctions ‘declaration of economic war,’ says Medvedev

MOSCOW, Aug 10 (Agencies) | Publish Date: 8/10/2018 12:43:58 PM IST

Russia warned Friday that if the US followed through with threats to impose further harsh economic sanctions it would be seen as a “declaration of economic war”.

The warning by Prime Minister Dmitry Medvedev came after Washington unveiled a raft of new sanctions against Russia over its alleged use of the Novichok nerve agent against a former double agent which Britain has blamed on Moscow.

The incident, which took place in a city in southern England in March, triggered a major diplomatic crisis despite Russia’s denial of any role. The announcement of the sanctions prompted Russian stocks and the ruble to tumble on Thursday.

“While I don’t want to comment on the talk about future sanctions, I can say that if we end up with something like a ban on banking activities or the use of certain currencies, we can clearly call this a declaration of economic war,” Medvedev was quoted as saying by the Interfax news agency. “And we must absolutely respond to this war. By economic means, by political means and if necessary by other means,” he added. “Our American friends must understand this.”

Announced late on Wednesday, the first set of sanctions, which will take effect in just under two weeks, impose a ban on the export to Russia of “national security sensitive” US technologies.

Until now such exports had been previously allowed on a case-by-case basis, with a senior State Department official saying the move could cut off hundreds of millions of dollars worth of exports to Russia.

A second round of sanctions that could go into effect 90 days later would cut far deeper, including blocking all American bank loans to Russian entities, an outright ban on US exports to Russia, and suspension of diplomatic relations.

The State Department said the sanctions were aimed at punishing Moscow for having “used chemical or biological weapons in violation of international law”, mandated under the Chemical and Biological Weapons and Warfare Elimination Act of 1991.

However the sanctions announcement could bolster US President Donald Trump’s claim that his administration is taking a tough stance on Moscow, even as he continues to denounce as a “witch hunt” an independent probe whether his election campaign colluded with Russia.

According to the 1991 Act, the president shall tighten the penalties within 90 days -- unless the party in question provides “reliable assurances” that it no longer engages in such activities, and allows on-site inspections by United Nations observers.

 

-Tags:#Medvedev

Launched on December 3,1990. Nagaland Post is the first and highest circulated newspaper of Nagaland state. Nagaland Post is also the first newspaper in Nagaland to be published in multi-colour.

Phone:+91-3862-248 489,Fax: +91-3862-248 500
Advt.:+91-3862-2482 267, e-mail:npostadvt@gmail.com

QUICK LINKS

SUNDAY POST

Join us on

© Nagaland Post 2018. All Rights are Reserved
Designed by : 4C Plus