Kremlin says new United States sanctions on Russian Federation illegitimate

The U.S. will also ban Russian Federation from receiving U.S. weapons or military technology and financial assistance.

The official said that if Russian Federation did not meet the demands, the United States "will have to consider whether to impose a second tranche of sanctions as specified by the statute".

He added that the USA move was "absolutely unfriendly", but reiterated Moscow's hope for improvements to the stressed relations between the two countries.

President Donald Trump, who is spending the week at his golf property in New Jersey, did not comment on the recent sanctions when asked about them by a reporter on Thursday.

But for the most part, those measures have punished Russian officials and associates of President Vladimir Putin rather than targeting broad economic sectors.

Facing a long-term drag as sanctions limit access to foreign technology and capital, Russian Federation has countered by revamping its fiscal and monetary policy, channelling extra income into a sovereign wealth fund and unloading most of its holdings of US Treasuries.

For the last time in Washington was announced several anti-sanctions initiatives.

Kremlin spokesperson Dmitry Peskov says new sanctions by the U.S.

The new sanctions will take effect on or around 22 August.

Such technologies have often been used in items including electronic devices as well as calibration equipment.

"It is possible that trade affected could potentially reach hundreds of millions of dollars", the official added.

The announcement of United States sanctions caused the value of the ruble to plunge early Thursday and Russian stock markets to fall. The first round of sanctions will take effect on August 22, while a second round may be introduced in 90 days in case Russian Federation fails to meet certain conditions, the State Department said.

Moscow's strategy of trying to improve battered U.S. -Russia ties by attempting to build bridges with President Donald Trump is backfiring after U.S. lawmakers launched a new sanctions drive last week because they fear Trump is too soft on Russian Federation.

As the Turkish lira sent tremors through the emerging markets by hitting all-time lows, analysts at Rosbank said the rouble was hit more by the situation in emerging markets than by concerns about new sanctions.

The Kremlin said the new sanctions were "illegal and do not correspond to worldwide law". The relationship is already routinely described as at its worst since the Cold War. The department accused Russian Federation of violating the worldwide law through its use of the lethal chemical weapon. "But we haven't", he said.

A week after it was introduced, the Defending American Security from Kremlin Aggression Act (DAKSAA) of 2018 made waves again on August 8 when the Russian daily Kommersant published what it said was the full text of the legislation.

Russian banks were also affected, with shares in state-run Sberbank sliding 4.7%.

The prospects for passage of what Graham called the "sanctions bill from hell" are uncertain.

"And it would be necessary.to react to this war economically, politically, or, if needed, by other means", he said. His tough tone was a departure from past nonchalance from Putin and his lieutenants over the impact of Western sanctions on the Russian economy.

The State Department said the sanctions were in response to "the use of a "Novichok" nerve agent in an attempt to assassinate United Kingdom citizen Sergei Skripal" - who was a double agent - and his daughter Yulia in March.

Moscow has angrily rejected any involvement in the poisoning, plunging diplomatic relations with London into crisis.

Lawmakers from Russia's ruling party accused USA politicians of treating the country like a punching bag in their partisan infighting and in midterm campaigning.

Russian Federation would be subjected to new sanctions unless it agreed not to use chemical or biological weapons against its own citizens, the State Department said. While Trump has hankered for closer ties with Putin, the government he leads has been far less accommodating.