Washington (US), January 21: A new draft of US sanctions proposed by Rep. Jim Banks suggests banning transactions with Russia's sovereign debt, according to the bill obtained by The Washington Post.
"Not later than 30 days after the date of the enactment of this Act, the President shall issue regulations to prohibit United States persons from purchasing, selling, or otherwise dealing in Russian sovereign debt that is issued or executed on or after the date that is 60 days after such date of enactment," the document said.
A new draft of Russia sanctions proposed by US Rep. Jim Banks entails measures against Nord Stream 2 as well as organisations related to the project, according to the bill obtained by The Washington Post.
The draft also seeks to declare Russia as a state sponsor of terrorism and "Russian-backed" forces in Donbass as terrorists, The Washington Post's report says.
"Designation of the Russian Federation as a state sponsor of terrorism and designation of the Russian-supported armed forces in the Donbas region of Ukraine as foreign terrorist organizations. (a) designation of the Russian Federation as a state sponsor of terrorism," the document said.
In addition to that, US congressmen led by Republican Jim Banks want to cut funding for cybersecurity dialogue with Russia until alleged attacks on American entities end, according to the new sanctions bill obtained by The Washington Post.
"Notwithstanding any other provision of law, no funds may be obligated or expended on a cyber dialogue with the Russian Federation until the President certifies to the appropriate congressional committees that cyber attacks from Russian entities and individuals against the United States have ceased," the document said.
The new US sanctions also envisage funding limitations on strategic stability talks with Russia until the latter reverses the "occupation" of Crimea, according to the bill obtained by The Washington Post.
"Notwithstanding any other provision of law, no funds may be obligated or expended on arms control negotiations or on Strategic Stability dialogue with the Russian Federation until the President certifies to the appropriate congressional committees that the Russian Federation has completely, fully, and verifiably withdrawn all forces, including proxy forces, from Ukraine and has reversed its illegal annexation of Crimea," the document said.
Earlier, US President Joe Biden said that Washington and its allies in Europe are ready to impose tough sanctions on Russia and its economy should Moscow decides to invade Ukraine.
US President Joe Biden warned that Russia will have a disaster on its hands should it decide to allegedly invade Ukraine.
"Russia will be held accountable if it invades and it depends on what it does - it's one thing if it's a minor incursion and then we end up having to fight about what to do and what not to do but if they actually do what they're capable of doing with the force amassed on the border it is going to be a disaster for Russia if they further invade Ukraine," Biden said during a press conference on Wednesday, adding that Russia has overwhelming superiority over Ukraine.
Biden added that the United States and its European allies are prepared to impose severe costs on Russia and its economy should it invade. He said Putin has never seen sanctions like the ones that would be imposed if there is an escalation.
Kremlin spokesman Dmitry Peskov commented on Biden's remarks, saying that such "statements threatening Russia that Moscow will have to pay for some hypothetical actions are being made constantly."
"Statements threatening Russia and warning that Russia will have to pay a heavy price for some hypothetical actions are heard daily," Peskov told reporters, adding that they have been constantly made by numerous speakers from an average expert to state leaders over the past month at least.