US Democrats unveil new Russia sanctions bill amid soaring tensions: Report

US Democrats unveil new Russia sanctions bill amid soaring tensions: Report

The Democrats in the US Senate are expected to present a new sanctions bill on Wednesday targeting Russia, according to reports, which would inflict “severe costs” on the country’s economy.

The move comes amid growing tensions between Moscow and Washington over Ukraine.

Under the bill, sweeping sanctions would be imposed on top Russian military and civilian officials, including President Vladimir Putin as well as key banking institutions, if Moscow engages in hostilities against Ukraine, Washington Post reported.

It also includes provisions to help strengthen Ukraine’s security and encourages the Joe Biden administration to “consider all available and appropriate measures” to ensure the Nord Stream 2 pipeline does not get up and running, the report said.

The bill would also target companies in Russia that offer secure messaging systems, such as SWIFT, which banks use to exchange key information with other financial institutions, the report noted.

The bill to be tabled…

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