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Senior diplomat slams possible US sanctions on Russian public debt as 'a shot in the foot'

These actions will not go unpunished, the Russian deputy foreign minister pledged

UNITED NATIONS, July 19. /TASS/. The sanctions that the United States can possibly impose on the Russian government debt will harm Washington itself, Russian Deputy Foreign Minister Alexander Pankin told reporters on Friday.

"This is a bit like a shot in the foot, because many foreign investors are interested in Russia’s debt obligations, they will have revenues taken away from them," he said. "I believe that the Americans simply cannot backtrack, whether it is effective or not."

Speaking about the possible responses, Pankin pointed to two possible ways, namely mirror counter measures or an asymmetric response. "Of course, these actions will not go unpunished," the diplomat pledged. "But this is not a task of attacking for the attack. The task is to adapt to these measures and look for ways around."

"Each such step complicates life for us, but they are not deadly and we learn to work in certain new spheres with the adoption of each of them," he concluded.

On July 11, the House of Representatives of the US Congress passed an amendment to the 2020 fiscal year, envisaging sanctions against Russia’s sovereign debt over alleged election meddling. The amendment was introduced by the Democrats from the State of California, Brad Sherman and Maxine Waters. Sherman pointed out that the amendment envisages real, serious sanctions against the Russian state and stipulates that no US citizen is allowed to make deals with the Russian sovereign debt, as well as provides a mechanism of lifting these sanctions if the US administration reaches a conclusion that Russia did not interfere in the American elections of at least of electoral cycle and the Congress agrees.