Kremlin says new U.S. sanctions on Russian Federation illegitimate

The ruble is in trouble

Vladimir Putin has ordered that a proposal to raise 500 billion roubles ($7.5 billion) a year from metal and mining firms be looked at, but the Russian president has not decided whether to approve the plan by a Kremlin economic aide.

Prime Minister of Russia Dmitry Медведевhttp://fakty.ua/277 716-rubl-rekordno-ruhnul-na-fone-novyh-sankcij-ssha considers that, in the case of the introduction of new anti-Russian sanctions by the US this step can be regarded as a Declaration of economic war.

State Department spokeswoman Heather Nauert also said Pompeo "reiterated that the United States seeks an improved relationship with Russian Federation and agreed to future dialogue" during the call.

According to the State Department, the sanctions will include the presumed denial of export licenses for Russian Federation to purchase many items with national security implications.

Another round of sanctions will be triggered under the law if Russian Federation fails to meet a series of criteria, including demonstrating that it is no longer using chemical or biological weapons in violation of worldwide law or against its own citizens.

The U.S. Congress enacted a set of mandatory sanctions against Russia this week after the State Department announced it had determined that Russia had used chemical or biological weapons in the poisoning of former double agent Sergei Skripal and his daughter that inflamed Russian-EU relations this spring.

Russian Federation continues to slam the US over its announcement of new sanctions targeting the Kremlin, saying the move is meant to "demonize" Russian Federation.

President Trump had already moved to expell a hundred Russian diplomats from the U.S. following the attack.

Skripal and his daughter were poisoned by the Novichok military-grade nerve agent in the English city of Salisbury in March.

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With more Congressional pushes for yet more sanctions, Russian Federation issued a warning Friday that further sanctions amount to a "declaration of economic war" against Russian Federation.

Department spokeswoman Heather Nauert said the administration had "complied with the law" and would continue to do so, but added: "We'd like to have a better relationship with the Russian government, recognizing that we have a lot of areas of mutual concern". The Russian government has repeatedly denied any involvement in the attack.

The State Department confirmed that the call took place and that the two diplomats discussed the sanctions.

Russian Federation assets tumbled following news of the sanctions, with the US dollar strengthening to its highest level against the ruble since November 2016.

Under the new sanctions, which will take effect in two weeks, requests by American companies to sell Russian Federation items with a potential national security objective will be automatically denied, with few exceptions.

"It's critical that we use every tool at our disposal to confront Putin's use of chemical weapons, as well as his efforts to undermine our democracy", the Republican from California said.

Turbulence in the oil market is also putting pressure on the currency, analysts said. "And our American friends should understand it", - said Medvedev.

Trump administration officials made clear that USA law gave them no choice but to enact new sanctions - and that it was not their policy decision after President Trump and Russian President Vladimir Putin's meeting in Helsinki last month.

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