A senior Treasury official warned Tuesday that the United States has more economic sanctions on Russia in the pipeline, after the US blacklisted two Russian companies for trading with North Korea. “Absolutely … You will continue without a doubt to see more from this administration,” Sigal Mandelker, US Treasury Under Secretary for Terrorism and Financial Intelligence told a Senate hearing when asked if more sanctions were forthcoming. “We have imposed major costs on Russia,” she told the Senate Banking Committee. “We believe its adventurism undoubtedly has been checked by the knowledge that we can bring much more economic pain to bear using our authorities — and that we will not hesitate to do so if its conduct does not demonstrably and significantly change.” The statement came shortly after the Treasury slapped punitive sanctions on two Russian shipping firms and six Russian-flagged vessels linked to the firms for violating economic sanctions on North Korea. The Treasury said Primorye Maritime Logistics Co. and Gudzon Shipping Co. own a tanker, the M/V Patriot, which conducted ship-to-ship transfers of oil to North Korea tankers twice earlier this year. That violated a UN-backed embargo on doing business with North Korea (DPRK), part of an effort… Read full this story
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