Bloomberg reported the U.S. government has warned leading asset managers that it is planning further sanctions against Russia over the conflict in Ukraine. Officials from the Treasury Department and the National Security Council met with mutual fund and hedge fund managers in Washington last week and warned them to account for the risk of more sanctions on Russia. The meeting left managers pondering over the question of whether the government intended to launch a new round of sanctions, or it was trying to trigger asset sales through the threat of sanctions. The meeting of the U.S. Administration with hedge fund representatives convened a week before the talks with Russia in Geneva on April 17. The Geneva statement called for all illegal armed groups in Ukraine to be disarmed. The execution of the accord will be monitored by the Organization for Security and Co-operation in Europe.
“If we’re not able to see progress on the immediate efforts, to be able to implement the principles of this agreement this weekend, then we will have no choice but to impose further costs on Russia,” State Secretary Kerry said at a press conference. President Obama has already discussed this issue with Germany’s Chancellor Angela Merkel.
The U.S. imposed the sanctions against Russia in March after the Crimean peninsula joined the Russian Federation as a result of the referendum which the Western states failed to acknowledge. The sanctions set out arrest of accounts and visa ban for several high-ranking officials and entrepreneurs, including billionaire Gennadiy Timchenko, Rottenberg brothers, Russian Railways President Vladimir Yakunin, and some others. Besides, the sanctions concerned the Rossiya Bank which in fact lost an opportunity to operate abroad. Likewise, the European Council also implemented the legal actions.