Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Global Geo-political Series: US House of Representatives passes Russia sanctions bill with overwhelming majority

The US House of Representatives overwhelmingly voted to pass new sanctions which will be Presidential veto proof on Russia, Iran, and North Korea. This law will limit the President’s power in unilaterally removing sanctions on Russia and would require the approval of congress. Lawmakers voted 419-3 to approve legislation seeking to punish Russia over a host of issues, including its alleged meddling in the 2016 presidential election, its support for the Syrian government and alleged support for the rebels in Ukraine, as well as Crimea’s accession to Russia. The bill can be seen as a clear rebuke to President Trump’s attempt to normalize relations between the United States and Russia.

The sanctions target a range array of entities and individuals including Russia’s energy sector, banks, and weapons manufacturers, as well as those whom the US has accused of interfering in the presidential election of 2016 via hacking and otherwise. To reverse each of these sanctions, the administration would have to provide evidence and certify that the conditions that prompted them have been removed. Having secured well over two-thirds of the legislature’s votes, the bill is effectively veto-proof, meaning lawmakers have enough votes to override any potential veto by the president. Despite expressing doubts about Russia’s alleged interference in his election, President Trump would sign the legislation, White House press secretary Sarah Huckabee Sanders said on last Sunday.

The European Union members warned that United States’ Congress against the bill as it might lead to sanctions against European companies, especially those involved in the NordStream 2 pipeline, which would supply natural gas from Russia to Germany.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.