The Kremlin said on Friday that it had not yet closely examined legislation drafted by Russian lawmakers in response to new U.S. sanctions, but that it was understandable that they wanted to retaliate.
Kremlin: it's understandable lawmakers hitting back on U.S. sanctions
Lawmakers said earlier on Friday they had drafted legislation in response to new U.S. sanctions that proposes banning or restricting imports of a raft of U.S. goods and services to Russia and curbing economic ties.
Kremlin spokesman Dmitry Peskov said in a conference call with reporters that any response by Moscow to the sanctions imposed by Washington would not harm Russia’s interests.
***************** MORE INFO ON LIST
Russia’s lower house of parliament is to consider draft legislation that would give the Kremlin powers to ban or restrict a list of U.S. imports, reacting to new U.S. sanctions on a group of Russian Businessmen and officials. Kremlin loyalists, said they had prepared the list ranging from food and alcohol to medicine and consulting services in response to Washington’s move last week.
The draft law, according to a text seen by Reuters, is aimed at protecting Russia’s interests and security in the face of “unfriendly and unlawful acts by the United States of America and other foreign states”.
Russian currency and stock markets, preoccupied with the threat of U.S. military action in Syria and the fallout from Washington’s new sanctions, did not react to the draft legislation.
TOBACCO AND ALCOHOL~
Russia imported $12.5 billion worth of U.S. products in 2017, according to official customs data. That included aircraft, machinery, pharmaceutical and chemical products.
The draft legislation would give authorities the power to impose bans or restrictions in multiple areas of trade with the United States if they deemed that Washington was threatening Russia’s interests.
The sectors listed in the draft which could be subject to bans or restrictions include U.S.-made software and farm goods, U.S. medicines that can be sourced elsewhere, and tobacco and alcohol.
It gives the government the power to ban cooperation with the United States on atomic power, rocket engines and aircraft making, and to bar U.S. firms from taking part in Russian privatisation deals.
The provision of auditing, legal and consulting services by U.S. firms could also be subject to bans or restrictions, and curbs could be imposed on U.S. citizens working in Russia.
Western companies, including Ford Motor Co, PepsiCo Inc and Coca-Cola’s bottler Coca-Cola HBC, have also invested billions of dollars since the fall of the Soviet Union to set up local production in Russia.