Russia warns it will consider it economic WAR if the US imposes curbs on its banks as part of new sanctions in wake of UK Novichok attack

Friday, August 10, 2018
By Paul Martin

Prime Minister Dmitry Medvedev has warned the US against sanctioning Russian-owned banks operating inside America
He said such an act would be ‘economic war’ and force Russia to respond ‘economically, politically or by other means’
US senators have submitted draft bill to curb banks and restrict use of the dollar
State Department has also announced fresh sanctions to take effect next week

10 August 2018

Russia has warned the US that any sanctions against its banking system or their foreign currency dealings would be considered ‘an act of economic war’.

Prime Minister Dmitry Medvedev said on Friday that Russia would be prepared to retaliate to that threat ‘economically, politically or by other means’.

It comes after Republican and Democrat senators introduced a draft bill last week proposing curbs on several Russian-owned banks operating in the US and restrictions on their use of the dollar.

Medvedev said: ‘I would not like to comment on talks about future sanctions, but I can say one thing: If some ban on banks’ operations or on their use of one or another currency follows, it would be possible to clearly call it a declaration of economic war,’ said Medvedev.

‘And it would be necessary, it would be needed to react to this war economically, politically, or, if needed, by other means. And our American friends need to understand this,’ he said, speaking on a trip to the Russian Far East.

The fate of the bill he was referring to is not certain.

The full U.S. Congress will not be back in Washington until September, and even then, congressional aides said they did not expect the measure would pass in its entirety.

It also comes after the Trump administration announced fresh sanctions against Russia after determining it was responsible for poisoning double-agent Sergei Skripal with Novichok in England earlier this year.

The State Department announced the sanctions on Wednesday but did not say what or who would be targeted, with more details to follow later this month.

That news pushed the rouble to two-year lows and sparked a wider sell-off over fears Russia was locked in a spiral of never-ending financial punishment.

Moscow also threatened retaliation over those curbs, suggesting that NASA could be a target since it uses Russian engines.

It comes as the Trump administration announced moves to create a Space Force.

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