Published: Fri, April 16, 2021
Economy | By

Biden invites Russian Federation to a summer summit in Europe amid sanctions

Biden invites Russian Federation to a summer summit in Europe amid sanctions

The Kremlin said on Friday that Russian President Vladimir Putin would decide what counter sanctions to impose on Washington, a day after U.S. President Joe Biden hit Moscow with an array of punitive measures, but gave no indication of timing.

Russian diplomats have also been targeted as part of the sanctions.

The primary market in this instance refers to Russian debt securities created and offered to the public for the first time, while the secondary market is where those securities are traded among investors.

Relations between Washington and Moscow have been adversarial in recent years. The sanctions aren't specifically tied to that intelligence.

The Russian Foreign Ministry reacted angrily, summoning the U.S. ambassador for a diplomatic dressing-down to tell him "a series of retaliatory measures will follow soon". "A response to sanctions is inevitable". The measures are to be announced Thursday according to the official who was not authorized to discuss the matter by name and spoke on condition of anonymity.

"The hostility and unpredictability of America's actions force us in general to be prepared for the worst scenarios", Kremlin spokesman Dmitry Peskov told reporters last week, anticipating the new sanctions. It was not immediately clear what if any other actions might be planned Officials had previously said they expected to take actions both seen and unseen. "People understood that sanctions were inevitable".

Russian Federation swiftly denounced the actions and warned of retaliation.

The U.S. said on Thursday that Kilimnik had provided campaign polling data and strategy to Russian intelligence services.

"The Biden administration is preparing to announce sanctions and the expulsion of diplomats from the U.S. in response to a massive Russian hacking campaign that breached vital federal agencies as well as for election interference", a senior administration official said. Though such intelligence-gathering missions are not uncommon, officials said they were determined to act because of the operation's broad scope and the high cost of the intrusion on private companies.

Through an executive order released on Thursday, the USA government now has "strengthened authorities" to sanction Russian entities and individuals for malign activity.

The administration's announcement comes as part of a broader effort from the Biden administration to hold Russian Federation accountable for the SolarWinds breach - in which the government blamed Russia's Foreign Intelligence Service (SVR) hackers for lacing malicious code in a software update federal contractor SolarWinds - as well as other malign activity.

Russian Federation has repeatedly rejected accusations that it meddles in elections, poisons its critics or offered to pay bounties for the killing of American troops.

The U.S. government will also be expelling 10 Russian government employees, a diplomatic tactic that's been used in the past, including by former Presidents Barack Obama and Donald Trump, to express dissatisfaction with Russian intelligence activities.

In a report last month, USA intelligence agencies concluded the Russian president likely directed online efforts to help President Donald Trump win a second term.

Actions in response to the malicious SolarWinds cyber activity target about half a dozen entities linked to Russian security services. Other entities the Biden administration also identifies as working for the Russian government's hacking goals include ERA Technopolis, which has supported the GRU's cyber and information operations.

The adversary's compromise of the SolarWinds software supply chain is said to have given it the ability to remotely spy or potentially disrupt more than 16,000 computer systems worldwide, according to the executive order issued by the USA government.

-With assistance from Henry Meyer, Áine Quinn, Tony Halpin, Saleha Mohsin, Ilya Arkhipov and Evgenia Pismennaya.

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