World U.S. Told Russian Embassy No New Sanctions Due Soon, Russia Says

13:58  18 april  2018
13:58  18 april  2018 Source:   bloomberg.com

Trump sanctions cost Russian tycoons up to $16 billion in one day

  Trump sanctions cost Russian tycoons up to $16 billion in one day "I lost $250 million in one day," one bank executive said. "But there have been worse days when I've lost $1 billion in a day."The ruble fell to its lowest level against the dollar since late 2016, while shares in sanctioned aluminum producer Rusal, which is controlled by the billionaire Oleg Deripaska, plunged more than 50 percent on the Hong Kong stock exchange.

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One source told a Russian news agency 'hundreds' would be sent home. The Senate approved a new package of stiff financial sanctions Friday Russia reacted by ordering the U . S . to cut its embassy staff down to 455. It also plans to seize a U . S . retreat outside Moscow and a diplomatic warehouse.

Nikki Haley wearing a suit and tie: Secretary Of State Nominee Mike Pompeo Senate Foreign Relations Committee Confirmation Hearing © Bloomberg Secretary Of State Nominee Mike Pompeo Senate Foreign Relations Committee Confirmation Hearing

(Bloomberg) -- The Trump administration notified Russia’s U.S. embassy in Washington Sunday that it has no plans to impose any further sanctions soon, according to a Foreign Ministry official.

Conflicting signals from Washington over its plans have sent markets gyrating in recent days. When official Russian news agencies reported the U.S. notification Wednesday, the ruble flipped from being the worst performing emerging-market currency to the best in the first hour of trading in Moscow. Ten-year ruble debt erased declines, climbing for a third day before the Finance Ministry plans to sell bonds after axing an auction last week for the first time since 2015.

Banks That Deal With Sanctions-Hit Russians to Face Ire of U.S.

  Banks That Deal With Sanctions-Hit Russians to Face Ire of U.S. British banks that deal with the Russian oligarchs and companies on a new American sanctions list will face “consequences,” according to a senior U.S. Treasury official. “We’re focused on countering the full range of Russian malign activity,” Sigal Mandelker, the Treasury’s under-secretary in charge of economic sanctions, said at a roundtable discussion at the U.S. embassy in London on Tuesday.

Russia has told the U . S . it must cut staff at its embassy and other facilities in Russia by 755 people by Sept. 1 in retaliation for a new sanctions law passed by the U . S . Congress last week, President Vladimir Putin said .

Though Russia can keep its New York consulate and Washington embassy , Russian But earlier this month, Trump begrudgingly signed into law stepped-up sanctions on Russia that Congress Earlier, the U . S . had said it would start processing visas only at the embassy in Moscow, meaning

The latest back-and-forth began Sunday, when U.S. ambassador to the United Nations, Nikki Haley, said the Treasury would announce new sanctions soon targeting Russian companies linked to Syria’s chemical weapons program. The following day, the Washington Post reported that President Donald Trump halted the plan.

The Foreign Ministry official spoke on condition of anonymity to discuss private conversations. The official wouldn’t specify who on the U.S. side had given the notification.

Tuesday, White House economic adviser Larry Kudlow told reporters that “additional sanctions are under consideration” though he said Haley had “got ahead of the curve” by discussing them publicly.

The U.S. imposed sanctions on dozens of Russian tycoons and companies earlier this month, the most punitive measures since it first slapped economic penalties on Russia four years ago over the Ukrainian conflict. One of Russia’s most powerful businessmen, billionaire Oleg Deripaska, was hit hardest and shares of his aluminum giant Rusal have plunged about 70 percent in Hong Kong since the U.S. basically banned the company from the dollar economy.

To contact the reporter on this story: Henry Meyer in Moscow at hmeyer4@bloomberg.net.

To contact the editors responsible for this story: Gregory L. White at gwhite64@bloomberg.net, Tony Halpin, Paul Abelsky

©2018 Bloomberg L.P.

Mnuchin Says Russian Oligarchs Sanctions Had Impact U.S. Wanted .
U.S. sanctions on Russian oligarchs that sent the ruble tumbling and roiled metals markets had the effect the Trump administration wanted, Treasury Secretary Steven Mnuchin said. Mnuchin, speaking in an interview broadcast Thursday on Fox Business, said that the sanctions against tycoons close to the Russian government had the “necessary impact.”He didn’t rule out additional financial penalties, saying the administration “is not afraid to use these tools -- we will use these tools -- but we’re not going to broadcast to the world our exact thinking.

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