Economics
Mnuchin Stands by Report Advising Against Russia Debt Sanctions
- Bill in U.S. House would prohibit sales, financing of debt
- Treasury warned hitting debt would roil markets worldwide
Sanctions Keep Sinking the Russian Ruble
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The Trump administration is standing by its advice to Congress against sanctioning Russian debt, Treasury Secretary Steven Mnuchin said Wednesday, as two members of the House are attempting to drum up support for legislation that would prohibit purchases of Russian sovereign debt.
The risk of conflict between the U.S. and Russia over Syria has been roiling markets, raising Russian credit risk and weakening the ruble. Adding to the turmoil has been the introduction of a measure -- still in the earliest stages of the legislative process -- to block transactions and financing for Russian sovereign debt.