Russian Ruble Briefly Falls To Lowest Level Since 2016

Posted August 24, 2018

All of the property and interests in property held by the sanctioned individuals and the businesses will be blocked, and people in the U.S. will be prohibited from engaging in transactions with them.

WASHINGTON-The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of United Nations restrictions.

Nevertheless, Russian President Vladimir Putin remains ready to resolve the problems facing the two countries, he said.

Those come on top on sanctions already in place over Russia's annexation of Crimea or Moscow's interference in foreign elections, notably in the 2016 presidential vote in the United States. The Treasury Department also brought sanctions against "registered ship owners and managers of Russia-flagged merchant vessel Patriot" along with five other vessels, accusing it of having conducted "two ship-to-ship transfers of oil for the benefit of North Korea" in early 2018.

"The actions of [us] Ministry of Finance had broad implications for the financial interests of the affected individuals and legal entities, including the freezing of Russian assets in the hundreds of millions of dollars in the United States", the report said.

"Our British counterparts have pretty high self-esteem", he said.

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Russian Deputy Foreign Minister Sergei Ryabkov said that new USA sanctions introduced over alleged hacking and illegal oil products supply to North Korea were groundless, promising a response from Moscow.

"The country, which is leaving the European Union as part of Brexit, is trying to dictate foreign policy to the European Union, and now it turns out that London wants to dictate foreign policy with regard to Russian Federation to Washington as well", he added.

Trump has been widely attacked after his Helsinki meeting with Putin, due to his reconciliatory remarks that many saw as a sign of siding with Moscow against the USA intelligence community's conclusion that Russian Federation meddled in the 2016 US elections.

"The ruble should not be this weak based on, shall we say, fundamentals", said Chris Weafer, a Moscow-based senior partner at the Macro Advisory consultancy.

He said Russia's offer of talks still stood however.

Kim also committed at the summit to work toward the "complete denuclearization" of the Korean Peninsula in exchange for security guarantees from the US.

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