US Sanctions to Restrict New Debt Dealings in Russian Finance, Energy Sectors

Newly proposed US sanctions against Russia would restrict debt dealings with Russian banks and energy companies to 14 days and 30 days, respectively, the text of the legislation showed.

WASHINGTON (Sputnik) — For the financial services sector, the bill would modify an existing directive to prohibit "the conduct by United States persons or persons within the United States of all transactions in, provision of financing for, and other dealings in new debt of longer than 14 days maturity or new equity of persons determined to be subject to the directive, their property, or their interests in property," the bill states.

With regard to the energy sector, the bill would prohibit "the conduct by United States persons or persons within the United States of all transactions in, provision of financing for, and other dealings in new debt of longer than 30 days maturity of persons determined to be subject to the directive, their property, or their interests in property," the bill states.

The new sanction also target Russia's defense, intelligence, mining, shipping and railway industries.

The new measures were introduced on Monday in an amendment to an Iran sanctions bill that censures the Islamic Republic over its ballistic missile program.

The US Senate is expected to vote on the legislation this week.