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10 August 2018, 02:45 | Kelvin Horton
TARGETED Sergei and Yulia Skripal were exposed to Soviet-era nerve agent Novichok
Russia's embassy in the United States called new USA sanctions draconian and said the reason for the new restrictions - allegations it poisoned a former spy and his daughter in Britain - were far-fetched.
"Investors will likely ignore the Russian economic fundamentals in the weeks ahead and focus on political developments", said Hussein Sayed, chief market strategist at FXTM.
The US is poised to impose sanctions on Russia in retaliation for a March nerve agent attack on a former Russian double agent and his daughter.
Russia's embassy in the United States called the new USA sanctions draconian and said the reason for the new restrictions - allegations it had poisoned the Skripals in Britain - was far-fetched.
She said sanctions would take effect on or around 22 August, after a 15-day Congressional notification period. Washington subsequently accused Moscow of breaking the 1991 worldwide law against chemical and biological warfare.
Putin's spokesman Dmitry Peskov said the USA move runs contrary to a "constructive" atmosphere at the Trump-Putin summit last month, and he strongly denied any Russian role in the poisoning in Britain.
Russia-U.S. ties have sunk to their lowest level since the Cold War times amid tensions over Ukraine, the war in Syria and the allegations of Russian meddling in the 2016 U.S. presidential election.
Peskov said the sanctions were contrary to the "constructive atmosphere" established during U.S. President Donald Trump's July summit with Putin in Helsinki.
In a statement issued by its embassy in Washington, Russia called charges that Moscow employed chemical weapons "far fetched" - arguing the USA lacked evidence, and repeating demands for a new investigation into the poisoning.
The Trump administration will impose sanctions on Russia under a chemical and biological warfare law following the poisoning of a former Russian agent and his daughter in the United Kingdom earlier this year, the State Department announced Wednesday. Russian stocks slumped following its unveiling and the dollar hit a two-year high against the rouble.
During his visit to the Kronotsky State Nature Reserve, Medvedev was asked what sanctions could be imposed on Russian Federation in the future and how they can affect the country's economy.
Mike Huckabee said President Trump doesn't get enough credit for his tough stance toward Russian Federation.
A senior Russian lawmaker denounced the sanctions as "lynch law".
In response to the United States announcement, the Russian Embassy in the U.S. issued a statement referring to "far-fetched accusations" and saying Russian officials had yet to hear any facts or evidence and that the USA had refused to answer questions.
"Today's step is an important but moderate set of sanctions", said Peter Harrell, a sanctions official in the Obama administration, adding that further sanctions expected in three months "could be among the most severe yet, but could also be quite modest, depending on where the Trump administration wants to go".