Today, Russia’s Federation Council may adopt the lower legislative chamber’s bill regarding counter-sanctions against the US amidst an escalated diplomatic
Today, Russia’s Federation Council may adopt the lower legislative chamber’s bill regarding counter-sanctions against the US amidst an escalated diplomatic brawl over March’s nerve agent attack in the UK and the April 7 Syrian chemical attack.
On Monday, the State Duma met to determine measures of retaliation. Russia’s attacks on the US’ economic leverage include targeting US imports of metals, agricultural, alcoholic and technological goods and revoking Russian titanium exports for military technology; Russia has also proposed taking investments solely from countries also disillusioned by US foreign and economic policy. Russia may also upend US rights to claim Russian state and municipal property for building private industry.
These challenges could, according to Moscow, cost the US billions of dollars. This loss would be in addition to America’s trade spat with China, whose tariffs as one of the US’ largest trade partners will already have a more severe impact on the US economy. Losing components of Russian and Chinese trade simultaneously will pressure the US into isolationist economic policy perhaps more quickly than the domestic workforce can compensate for.