Two leading US senators have urged the Donald Trump administration to speed up the implementation of the new sanctions law against Russia. Jeanne Shaheen, the top Democrat on the Foreign Relations Committee, and Republican Roger Wicker, chairman of the Armed Services Committee, sent a letter to Treasury Secretary Scott Besant and Secretary of State Marco Rubio.
According to the senators, Washington should first focus its efforts on Russia’s “shadow fleet” – hundreds of tankers used by Moscow to transport oil and circumvent sanctions. They also urge the restriction of financial networks through which Russia continues to transfer funds beyond the reach of American control.
“Every day without maximum economic pressure allows Moscow to sustain this military escalation“, Shaheen and Wicker write.Pressure on banks and financial intermediaries
The letter names foreign bank branches, including in Shanghai, as well as a growing network of financial institutions in Kyrgyzstan. According to the senators, these structures are used as clearinghouses for capital subject to sanctions.
“Foreign banks must be forced to make a choice. They can either do business with the United States or finance Russia's war. "They can't do both," the two senators said.
They are urging the U.S. Treasury Department to issue clear regulatory guidance in October to stop new capital flows to Russia by U.S. financial institutions. The law prohibits new U.S. investments in the country and transactions in Russian government debt.
Warning on Russian satellite system
Shaheen and Wicker are also urging the administration to counter the development of a Russian satellite system in low-Earth orbit. Ukraine warns that such a system could facilitate real-time strikes and create an additional threat in the winter.
The senators are also urging a halt to the supply of dual-use technologies and electronics that could be used by the Russian armed forces. They also want sanctions against companies and organizations supporting the Russian military-industrial complex.
The law should come into force on October 18
Donald Trump signed the sanctions law on September 18, almost a month after it was adopted by Congress. The Senate approved it on August 7, and the House of Representatives - on September 16. The main part of the provisions should begin to be applied on October 18 after the expiration of the 30-day period for consideration by the administration.
According to the “Associated Press“ in the past month, the Trump administration has not announced public steps to implement the law. On September 22, the president said that he was ready to use it if necessary.
Sources: apnews.com