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Congress close to deal on Russian Federation sanctions

Congress close to deal on Russian Federation sanctions”

In addition to imposing new sanctions on Russian Federation, the legislation allows lawmakers to vote to block the Trump administration from making changes to sanctions policy.

Under the deal unveiled Saturday, either the House majority or minority leader can introduce such a resolution. If the House passes the modified sanctions package, the Senate will have to hold another vote on the legislation that would now punish North Korea, Iran and Russian Federation.

A wide range of American conglomerates, including oil, energy, banking, aerospace, auto and heavy manufacturing enterprises have jointly started a lobbying campaign against the new round of sanctions against Russian Federation passed by the US Senate, CNN reports.

House Democrats raised objections over the scope of the review process, which gives Congress veto power if the administration tries to ease sanctions. Some expressed concerns it would mean Congress would have to vote on approving or blocking licenses for US businesses, an authority many want to remain with the Treasury Department. Negotiators further added North Korea sanctions to the package in the latest version of the bill.

A version of the bill released by House Republican leaders includes the changes sought since the Senate passed legislation in June that would prohibit US businesses from working on or supporting energy projects that include any participation by Russian companies, even outside Russia's borders.

Congress close to deal on Russian Federation sanctions

Adding the North Korean sanctions, as well as the other changes, will require the Senate to pass the sanctions package for a third time.

The legislation also includes sanctions on Iran as punishment for its ballistic missile development.

A number of large US companies stand for amending the draft law on tightening sanctions against Russian Federation, expressing concern that its adoption in its present form could adversely affect USA business.

Next week's vote on the sanctions legislation will come amid investigations of whether the Trump campaign colluded with Russian officials during the 2016 campaign.

These companies do not advocate a complete rejection of the bill, but believe that its individual provisions can be harmful for American business. There were concerns that USA companies wanting to finalize transportation deals could be barred under the current bill. Representatives of a number of major European energy companies also spoke against the new sanctions.



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