Kremlin aide warns U.S. of response if sanctions imposed - RIA

MOSCOW Tue Mar 4, 2014 2:46pm IST

Sergei Glazyev speaks during the 4th congress of the People's Will political party in Moscow February 10, 2004. REUTERS/Alexander Natruskin/Files

Sergei Glazyev speaks during the 4th congress of the People's Will political party in Moscow February 10, 2004.

Credit: Reuters/Alexander Natruskin/Files

Related Topics

MOSCOW (Reuters) - A Kremlin aide was quoted on Tuesday as saying that if the United States were to impose sanctions on Russia over Ukraine, Moscow might be forced to drop the dollar as a reserve currency and refuse to pay off any loans to U.S. banks.

Sergei Glazyev, who is often used by the authorities to stake out a hardline stance but does not make policy, was cited by RIA news agency as saying Moscow could recommend that all holders of U.S. treasuries sell them if Washington freezes the U.S.. accounts of Russian businesses and individuals.

The U.S. Senate Foreign Relations Committee is preparing legislation to provide support to Ukraine and consulting the Obama administration on possible sanctions against individual Russians, the committee's chairman said on Monday.

The committee was also consulting with President Barack Obama's administration on possible sanctions against individuals ranging from visa bans and asset freezes to suspending military cooperation and sales, as well as economic sanctions.

"In the instance of sanctions being applied to stated institutions, we will have to declare the impossibility of returning those loans which were given to Russian institutions by U.S. banks," RIA quoted Glazyev as saying.

"We will have to move into other currencies, create our own settlement system."

He added: "We have excellent trade and economic relations with our partners in the east and south and we will find a way to reduce to nothing our financial dependence on the United States but even get out of the sanctions with a big profit to ourselves."

(Reporting by Elizabeth Piper, Editing by Timothy Heritage)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Food Poisoning

Reuters Showcase

Cost Control

Cost Control

India caps prices of 36 more drugs to improve access - government official.  Full Article 

Alibaba IPO

Alibaba IPO

Alibaba jumps more than 40 pct in trading debut.  Full Article 

Scotland Referendum

Scotland Referendum

Scots spurn independence in historic vote, nationalist leader resigns.  Full Article 

On-Air Gaffe

On-Air Gaffe

TV anchor's number is up after naming China's Xi 'Eleven'  Full Article 

Indian Soccer

Indian Soccer

New league will lift Indian soccer, says Del Piero.  Full Article 

New iPhones

New iPhones

Apple faithful line up for latest, larger iPhones.  Full Article 

Director Jolie

Director Jolie

Angelina Jolie to direct Richard Leakey biopic 'Africa'.  Full Article 

Seeking 'Fame'

Seeking 'Fame'

North Korea says imprisoned American tried to become 'second Snowden' .  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage