Trump Admin. Argues New Bill Targeting Russia For More Sanctions 'Unnecessary' - Letter

WASHINGTON (Pakistan Point News / Sputnik - 19th December, 2019) The Trump administration opposes a bill for additional sanctions against Russia and has sent a letter to US Senate Foreign Relations Committee Chairman James Risch to make a case that the bill if harmful to the United States, its European allies and the global economy.

Earlier on Wednesday, the Foreign Relations Committee approved the Defending American Security from Kremlin Aggression Act (DASKA). The bill would impose new sanctions against Russia's banking sector, sovereign debt, ship-building industry, crude oil development and energy projects outside the country backed by Russian state-owned entities as well as against businessman.

"DASKA is unnecessary. The administration has considerable existing robust authorities to address malign Russian behavior," Assistant Secretary of State Mary Taylor wrote in the letter to Risch on Tuesday.

The 22-page letter, obtained by the Daily Beast, argues that DASKA would harm US allies in Europe and potentially fracture transatlantic backing for existing sanctions imposed on Russia.

Sanctions stipulated by the bill would also target US banks operating in Russia and harm US asset managers and citizens - the California Public Employees Retirement System has invested hundreds of millions of Dollars in Russia's sovereign debt, the letter pointed out.

In addition, the bill "risks crippling the global energy, commodities, financial, and other markets" as it would target "almost the entire range of foreign commercial activities with Russia," the letter said.

The Trump administration strongly opposes DASKA unless significant changes are made, the letter added.

The bill will now advance for a vote to the full Senate and must also be passed by the House of Representatives before being sent to President Donald Trump to sign it into law.

US Senator Lindsay Graham introduced the legislation earlier this year to punish what US lawmakers allege was Russian interference in the 2016 US election, its activities in Syria and for allegedly targeting Ukraine. An amended and arguably tougher version of the bill was approved by the Senate Foreign Relations Committee on Wednesday.

In February, Kremlin spokesman Dmitry Peskov said the legislation aimed to force competitive Russian companies out of the market. Russia has repeatedly rejected accusations of interfering in the domestic affairs of other countries, including those of the United States.