US Congress paves way for waivers to India from sanctions over Russia

The US Congress has passed a defence spending bill that seeks to amend an existing law to provide waivers to America's strategic partners like India from punitive sanctions against those doing business with Russia's defence industry.

The Senate passed the conference report on the National Defense Authorisation Act for Fiscal Year 2019 (NDAA) by an overwhelming, bipartisan vote of 87 to 10.

The Countering America's Adversaries Through Sanctions Act (CAATSA) waiver is intended at preventing US sanctions on countries like India. New Delhi is planning to buy five S-400 Triumf air defence systems from Russia for around $4.5 billion.


ALSO READ: US passes defence spending bill: Why it is threat for China, good for India
Passed by the House last week, the bill, named after Senate Armed Services Committee Chairman John McCain, would provide $716 billion support in funding for national defence for financial year 2019.

The bill, which now moves to the White House for President Donald Trump to sign it into law, among other things, provides a modified waiver to section 231 of the CAATSA.

Beijing slams US sanctions on Chinese firms trading with North Korea

China today rejected new United States sanctions targeting Chinese traders doing business with North Korea as "wrong", and urged the US to share any "solid" evidence.

"We consistently oppose any country adopting unilateral sanctions based on its own domestic laws and regulations and the wrong method of exercising long-arm jurisdiction," foreign ministry spokesman Lu Kang told reporters.
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US slaps sanctions on Venezuelan President Nicolas Maduro

The US has slapped sanctions on Venezuelan President Nicolas Maduro after Venezuela held its National Constituent Assembly (ANC) voting on Sunday.

"By sanctioning Maduro, the US makes clear our opposition to the policies of his regime," a statement by the US Treasury Department quoted Treasury Secretary Steven Mnuchin as saying on Monday, Xinhua news agency reported.

The statement also warned that anyone who participates in the ANC could be exposed to future US sanctions.

As a result of the sanctions, "all assets of Nicolas Maduro subject to US jurisdiction are frozen," said the statement, adding that US persons are prohibited from dealing with him.

Venezuela's Vice President Tareck El Aissami said on Sunday that voting was proceeding smoothly, except for an "isolated incident" in Tachira state that authorities brought under control.

He called Sunday's vote "a turning point towards a Venezuela with equality (and) social justice."

Samuel Moncada, Foreign Affairs Minister, said the participation of Venezuelans on Sunday, in the election of a National Constituent Assembly (ANC) is a "vote for peace"
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Russia slams fresh US sanctions, says move is a blow to normalising ties

Russian Deputy Foreign Minister Sergey Ryabkov on Wednesday slammed the US move to impose fresh sanctions on Moscow, calling it "destruction of prospects for normalising relations between the two countries".

Ryabkov's comments came after the US House of Representatives on Tuesday approved a package of further punitive measures for Russia's alleged interference in the 2016 US elections and its 2014 annexation of the Crimea.

"What is happening is beyond common sense," Ryabkov told Russia's official TASS news agency. "The authors and sponsors of this bill are making a very serious step towards destruction of prospects for normalising relations with Russia."

He said the approval of the law "would be the work of the enemies of Russia and the US".

Ryabkov also said that Washington's move had complicated negotiations between the two countries about the reutrn of seized Russian diplomatic property in the US.

"The US executive authority's capabilities to make the only correct decision to return to us the diplomatic property without any conditions are significantly narrowed... Therefore, of course our dialogue on this topic becomes even more difficult," Sputnik news agency quoted Ryabkov as telling RIA Novosti.
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US House to vote on Bill imposing sanctions on Russia, Iran, North Korea

The United States (US) House will vote on the bill agreed by Congressional Republicans and Democrats, that includes a package of sanctions against Russia, Iran and North Korea, thus making it harder for President Donald Trump to lift sanctions on Moscow.

The House will vote on the bill on Tuesday and the Senate is likely to take it up after that. The bipartisan agreement could send the new bill to President Trump by the end of the month. It was not immediately clear whether Trump would veto the bill, an action that would spark an outcry from both parties and risk a potential override with a two-thirds vote.

Democrats and some Republicans have expressed concerns that the US President is considering giving Russia back two compounds in Maryland and New York that were seized by the Obama administration in December.

The House is scheduled to leave for its August recess at the end of next week.

The bill limits Trump's power of easing sanctions on Russia, as it gives Congress power to veto any decision made by the President that would "significantly alter" US foreign policy in connection with Russia, Fox news reported.

The White House had objected to a key section of the bill that would mandate a congressional review if Trump attempted to ease or end the sanctions against Moscow.

"The legislation ensures that both the majority and minority are able to exercise our oversight role over the administration's implementation of sanctions," said Rep. Steny Hoyer, D-Md., the No. 2 House Democrat.
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US appeals court blocks release of HSBC report on money laundering

A US appeals court on Wednesday blocked the release of a report discussing HSBC Holdings Plc's progress in improving its controls against money laundering, reversing a judge's order that the report be made public.

By a 3-0 vote, the 2nd US Circuit Court of Appeals in Manhattan said US District Judge John Gleeson abused his discretion in finding that the public had a constitutional right of access to the report under the First Amendment.

HSBC agreed to a monitor in December 2012, when it accepted a $1.92 billion fine and five-year deferred prosecution agreement (DPA) to resolve a US Department of Justice probe.

The department said HSBC had become a preferred bank for Mexican drug cartels and other money launderers and conducted transactions in several countries barred by US sanctions.

Wednesday's decision was a victory for HSBC and the Justice Department, which have said releasing the report could compromise efforts to fight money laundering, including for terrorism, and discourage cooperation with law enforcement.

It was a defeat for Hubert Dean Moore, a Pennsylvania man who was an HSBC mortgage customer before filing for bankruptcy and sought the report's release to identify whether there remained problems in HSBC's business practices.

The report was kept under seal during the appeal.

HSBC, the Justice Department, Moore and Moore's lawyer did not immediately respond to requests for comment.
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