Russia prepares a plan to protect itself against US sanction

The Russian Security Council is preparing a response plan to protect against the new US sanctions and sanctions initiatives, reported RBC news agency with a reference to a source close to the Security Council and an interlocutor from a structure that prepared the proposals.

It was reported that the Security Council has collected from ministries and departments proposals on the protection of the economy. The Ministries of Finance, Economic Development, Industry and Trade, as well as the Central Bank, Vnesheconombank, and Russian industrial conglomerate Rostec have already submitted their proposals.

One of their ideas suggests including a paragraph on the inadmissibility of using the US law in the agreements between Russia and other countries, as well as inadmissibility of using US sanctions in force majeure clauses of international commercial agreements.

Russian officials also consider the possibility of priority purchases of technological products that have not fallen under future U.S. sanctions, and developing alternative international payment systems, including those based on quantum technologies.

In addition, the ministries propose to speed up infrastructure projects to ensure domestic demand for those goods that might soon fall under sanctions.

On August 27, US sanctions against the Russian Federation came into force in connection with the use of chemical weapons in the UK. Sanctions were imposed after Russian was accused of using the nerve agent Novichok  in the UK.

The US plans to introduce the second package of sanctions in November. The new ban may affect lending to Russian legal entities, as well as the export and import of certain goods.

In addition, the US plans to impose new sanctions against Russia before the coming elections in November. The new restrictive measures may target Russian national banks as well as Russian government debt.

  Russia, Skripal case, Britain, US sanctions