The new US draft law on sanctions against the Russian Federation provides for restrictions on Gazprombank, VTB, the Bank of Russia and Sberbank. This was reported by RIA Novosti on Tuesday, July 14.
It is clear that the draft law obligates the US President to impose at least two criminal measures against the Bank of Russia and a full package of restrictions against the other three banks.
Individuals and legal entities in the United States are prohibited from conducting any transactions with these credit institutions. They may be banned from using the US banking system.
At the same time, the US Treasury Department may exempt from sanctions a foreign bank conducting significant transactions with these Russian financial organizations if it deems the imposition of restrictions inconsistent with the country’s economic interests or foreign policy, it is said in condition.
On July 13, US President Donald Trump said that he had not yet made a decision regarding the draft law to tighten sanctions on the Russian Federation. The bill was prepared in the United States Congress.