Russia retaliates to US sanctions, will cut holdings of American securities 

WION Web Team
Delhi, India Published: Aug 12, 2018, 06:35 PM(IST)

File photo of Russian President Vladimir Putin. Photograph:( Reuters )

Story highlights

Russian foreign minister Sergei Lavrov on Friday condemned the sanctions stating that Moscow 'categorically rejects' the sanctions. 

In retaliation to new US sanctions on Moscow, the Kremlin on Sunday announced to continue decreasing its holdings of US securities, Finance Minister Anton Siluanov said.

According to state news, Russia will encourage other currencies, over the American dollar, to complete its settlements. 

The White House slapped sanctions on Russia to "punish" Moscow of having "used chemical or biological weapons in violation of international law", mandated under the Chemical and Biological Weapons and Warfare Elimination Act of 1991. 

Russian foreign minister Sergei Lavrov on Friday condemned the sanctions stating that Moscow "categorically rejects" the sanctions. 

PM Dmitry Medvedev warned that further sanctions would mean a "declaration of economic war".

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