US 'Kremlin List' means nothing to Russia - PM

A general view is seen of St Basil's Cathedral in Red Square ahead of the IAAF World Championships

Russian oligarchs have reportedly lost $1.1 billion after the U.S. Treasury Department released the highly anticipated "Kremlin List" in retaliation for alleged Russian election meddling.

Even the names on this list will not face immediate action - despite calls for Moscow to be punished for alleged interference in the 2016 USA election - and Putin dismissed the United States' latest "unfriendly act" as a minor inconvenience.

On Monday, according to a report by the Washington Post, the Trump Administration's State Department announced it would not impose the sanctions, spelled out in the Countering America's Adversaries Through Sanctions Act (Public Law 115-44), passed with bipartisan support 98-2 in the Senate June 15, 2017 and 419 to 3 in the House of Representatives July 25, 2017.

"It complicates Russia-U.S. relations, which are in a hard situation even without this, and it also causes damage to the worldwide relations in general". He also said it was "stupid" for the United States to treat Russia like Iran and North Korea as the Trump administration calls on Russian cooperation in imposing sanctions on those countries over their weapons and nuclear programs. Despite being added to the U.S. Treasury blacklist, neither businessman is considered to be close to the Kremlin.

Putin for his part sought to turn the tables on Washington, claiming the U.S. wanted to see opposition leader Navalny elected president.

"The one thing we know for sure already, is the Russians did attempt to meddle in our elections and not only should there be a price to pay in terms of sanctions but also we need to put safeguards in place right now for the elections for this year", she said on CNN. "We are not going to look for trouble, (and) aggravate relations", he said. Nonetheless, this sanctions provision will present substantial sanctions risks, and any person who is now engaging or proposes to engage in transactions with the Russian defense and intelligence sectors (especially those entities on the State Department list) immediately should review their transactions from the standpoint of USA sanctions compliance.

In 2014, the European Union member States imposed economic sanctions on Russian Federation as a direct reaction to the reunification with Crimea, which the West described as annexation.

More news: Starr: Mueller should investigate whether Trump lied

Prime Minister Dmitry Medvedev is among the 114 senior political figures in Russia's government who made the list, along with 42 of Putin's aides, Cabinet ministers such as Foreign Minister Sergey Lavrov, and top officials in Russia's leading spy agencies, the FSB and GRU. It also has a classified annex with "additional information".

US officials admitted the public version of the list had been drawn up based on publicly available data such as Forbes Magazine's annual lists of the super wealthy, and Putin joked that he was upset not to have been included himself. While American journalists have barely paid attention to the list, the Russian media has been frantically speculating for months about who might end up in the final version.

Peskov, as a member of the Kremlin administration, is on the list. Future sanctions would mostly be on foreign governments and business entities that buy from Russia, not the Russian firms, the official said.

MNUCHIN: The intent was not to have sanctions by the delivery report last night.

Instead, State Department spokeswoman Heather Nauert stated the existence of the sanctions is sufficient, and that they are acting as a deterrent.

"It's fine if the Trump administration doesn't believe in sanctions".

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