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President Donald Trump once again stands accused of being soft on Russia after he bypassed a deadline to hand down new sanctions on the country.
The Trump administration announced late Monday that it would not yet impose new sanctions on Russia as mandated by the Countering America’s Adversaries Through Sanctions Act (CAATSA), enacted in August to punish Moscow for its alleged interference in the 2016 U.S. election and military interference in Ukraine.
The move, or lack thereof, is widely being chalked up as a win for Russia.
“The champagne corks will be popping again in Moscow this morning with another major win for (Vladimir) Putin over the DC establishment,” said Timothy Ash, senior sovereign strategist for emerging markets at Bluebay Asset Management. “No new sanctions — Russian markets are likely to be cheered by this as expectations in Moscow at least (were) for much worse outcomes.”
Monday marked 180 days after the bill’s original signing, the deadline by which the Trump administration would have had to impose penalties against entities doing business with Russia’s defense and intelligence sectors. The measures varied in intensity, from banning certain export licenses and corporate visas, to prohibiting all bank transfers involving “interests of sanctioned entities” under U.S. jurisdiction.
While overwhelmingly passed by Congress in July, CAATSA was signed in August amid much protest from the president, who called it “seriously flawed.” The sanctions tug-of-war between Congress and the administration has played out in the shadow of U.S. Special Counsel Robert Mueller’s investigations over Russia’s election interference and whether Trump’s campaign team colluded with the Russian government.
The Trump administration announced late Monday that it would not yet impose new sanctions on Russia as mandated by the Countering America’s Adversaries Through Sanctions Act (CAATSA), enacted in August to punish Moscow for its alleged interference in the 2016 U.S. election and military interference in Ukraine.
The move, or lack thereof, is widely being chalked up as a win for Russia.
“The champagne corks will be popping again in Moscow this morning with another major win for (Vladimir) Putin over the DC establishment,” said Timothy Ash, senior sovereign strategist for emerging markets at Bluebay Asset Management. “No new sanctions — Russian markets are likely to be cheered by this as expectations in Moscow at least (were) for much worse outcomes.”
Monday marked 180 days after the bill’s original signing, the deadline by which the Trump administration would have had to impose penalties against entities doing business with Russia’s defense and intelligence sectors. The measures varied in intensity, from banning certain export licenses and corporate visas, to prohibiting all bank transfers involving “interests of sanctioned entities” under U.S. jurisdiction.
While overwhelmingly passed by Congress in July, CAATSA was signed in August amid much protest from the president, who called it “seriously flawed.” The sanctions tug-of-war between Congress and the administration has played out in the shadow of U.S. Special Counsel Robert Mueller’s investigations over Russia’s election interference and whether Trump’s campaign team colluded with the Russian government.
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