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Anti-Russian sanctions: Moscow plans freeze of trade with the US

RUSSIA (OBSERVATORY) –¬†Moscow will take retaliatory measures after the US Congress adopts new sanctions against Russia, the ITAR-TASS news agency said.

According to Andrei Klapach, deputy director of the Russian bank Vneshtorgbank, Moscow will be forced to no longer use any US product and freeze trade with the United States.

“Currently, while it is difficult to assess the potential harms of economic sanctions, it is clear that we must take steps to prevent the purchase of US goods and any trade with the United States,” he said. he asserted.

At present, the Russian Duma has drafted a law providing for retaliation against hostile policies and sanctions by the United States and other countries against Russia.

On Monday, April 9, a clear tumble of the Moscow Stock Exchange was noted. The Russian currency, the ruble, has returned to its lowest level since August 2016. Markets have fallen by almost 10%.

However, despite US sanctions, the economic prospects of Russia have not yet suffered, says Andrei Klapach.

New US sanctions have been imposed on Moscow, accentuating the tension between Russia and the West. On Friday, April 6, Washington announced measures against 7 oligarchs and 12 Russian companies considered close to the Kremlin to punish them for their malicious activities against “Western democracies”.

These US sanctions target 38 individuals and companies. They can not do business with Americans anymore. The Rusal group, one of the world’s leading aluminum producers, is feeling very vulnerable.