STOCK MARKET BSE NSE

Treasury secretary says US sanctions on Russia coming soon

Despite President Donald Trump's public statements appearing to oppose sanctions against Russia, the steps ordered by Congress will be imposed in coming weeks, Steven Mnuchin said Tuesday.

Published: 07th March 2018 12:22 AM  |   Last Updated: 07th March 2018 12:22 AM   |  A+A-

US Treasury Secretary Steven Mnuchin (Photo | AP)

By AFP

WASHINGTON: Despite President Donald Trump's public statements appearing to oppose sanctions against Russia, the steps ordered by Congress will be imposed in coming weeks, Treasury Secretary Steven Mnuchin said Tuesday.

In testimony before a House subcommittee, Mnuchin pushed back against the idea that Trump is trying to block the sanctions in response to Russia's meddling in the 2016 US presidential election, saying Trump is "fully supportive."

"We will implement them," Mnuchin said. "I expect in next several weeks we'll be going forward with sanctions on Russia."

Trump's vocal opposition to the package -- which entered into law earlier this year -- and his regular praise of Vladimir Putin has raised questions about whether the administration is dragging its feet, which has angered some lawmakers.

Several members of Trump's campaign have been charged or admitted to lying to the FBI about their contacts with Kremlin-linked officials accused of trying to sway the 2016 vote in Trump's favor.

Mnuchin assured the legislators that "in recent conversations with the president he is fully supportive of the work we are doing," and that the sanctions will be enforced.

At a separate hearing, Dan Coats, director of National Intelligence, said he expects Treasury to announce the Russia sanctions "within a week."

Democratic representative Mike Quigley said the only step taken so far has been a "laughable report on Russian oligarchs," but Mnuchin said the classified report given to Congress detailed the efforts to design the package of penalties.

In its report, Treasury publicly identified more than 100 Russian officials and business leaders eligible for sanctions, a list derived from Forbes magazine, among other sources.

A senior administration official last month said the White House has warned governments around the world that they could face sanctions for "significant transactions" with the Russian military.

That includes NATO ally Turkey, which has publicly announced the purchase of a Russian S-400 air defense missile system, which is regarded as a challenge to US air superiority.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp