Trump signs anti-Russian sanctions bill into law


August 2 , 2017 – Fort Russ News – 

KtovKurse – by Inessa Sinchougova

President of the United States Donald Trump ha signed the bill toughening sanctions against Russia. Earlier this bill was successfully passed by the Senate and the House of Representatives.

The bill suggests a significant tightening of sectoral sanctions, for example, tightening restrictions on the transfer of US technology for the exploration and production of Russian oil in deep water, on the Arctic shelf and in shale formations.

The measures will apply to all projects in which Russian companies have a “significant non-controlling interest” – from 33%.

The document, in particular, adjusts the range of deep-sea and Arctic offshore projects, as well as oil and gas projects with hard-to-recover reserves, which are prohibited from supplying equipment and technology.

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It is assumed that the US president can impose sanctions on persons who intend to invest more than five million dollars in the construction of Russian export pipelines for a year or a million dollars at a time or are going to provide services, technology or information support to projects.

The document also proposes to reduce the maximum period for market financing of Russian banks under sanctions to 14 days, and the subordination companies of the oil and gas sector – up to 30 days.

It is envisaged to restrict transactions involving Russian military institutions and special services. Parties to such transactions will be limited to issuing loans from US financial institutions; Obtaining state contracts; Carrying out banking or currency transactions, as well as transactions with property.

Sanctions are imposed against Russian financial institutions and their employees who interact with Syrian President Bashar Assad. The assets of such individuals will be frozen, the current US visas canceled, and entry into the US is forbidden.

Separately, the document stresses that the US will continue to oppose the construction of the Nord Stream-2 gas pipeline because of “harmful effects on the EU’s energy security, gas market development in Central and Eastern Europe and energy reforms in Ukraine.”

At the same time, the draft law notes that sanctions should not affect the cooperation of the United States and Russia in the space sphere. (Unless Russia proposes this as a counter-sanction.)

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