Proposed US sanctions may cost Russia $50bn – media

The US is reportedly trying to convince its allies to impose new sanctions against Russia if a war with Ukraine breaks out. These would target arms and energy exports, costing Moscow around $50 billion, German tabloid Bild reported citing unnamed sources.

The drastic step was reportedly proposed by William Burns, the head of the CIA, during his visit to Berlin. US officials reportedly asked the German government to ban imports of Russian raw materials and block the launch of the Nord Stream 2 pipeline.

Berlin assured the US that in the event of an invasion of Ukraine, Russian gas would not go through the Nord Stream 2 pipeline, the sources told the media. However, the chancellor’s office voiced doubts over completely abandoning the vital pipeline. The remark caused irritation in Washington, Bild reported.

READ MORE: Will Ukraine crisis destroy Russian economy?

Over the past few months, a wide range of Western media outlets, along with multiple US officials, have been spreading speculation about an imminent Russian invasion of Ukraine. Washington and some of its allies threatened the Kremlin with a new round of ‘crippling’ sanctions if this happens, citing the movement of Russian troops within the country’s vast Western territory as evidence of the plan. Moscow has consistently rejected the accusations, saying it has a right to carry out military maneuvers as it pleases within its borders.

For more stories on economy & finance visit RT’s business section

© 2022, paradox. All rights reserved.