Russia is now back on the radar of American congressmen.

Which lasted six months the sanctions respite, a gift from Russia by the United States Congress can come to an end.

Us lawmakers return to discuss further measures against Russia for the first time since the summer, when it was adopted the law on sanctions against Russian government debt. “The future policy of the Russian Federation” will be the topic of hearings in the international Committee of the U.S. Senate. The meeting will be held next Wednesday, November 20, reports finanz.ru.

As follows from the announcement on the website of the Committee to report to the senators invited assistant Secretary of state David Hale – the third-highest state Department official, acting in the capacity of Deputy Mike Pompeo on political issues.

Currently before Congress is at least 12 bills to toughen anti – Russian sanctions- most of them were made by members of the house of representatives in 2018.

They all contain a similar list of measures: the restriction against banks that “provide support for Russia’s efforts to undermine democratic institutions in other countries,” sanctions against investments in the Russian LNG projects, in debt securities of the government of the Russian Federation.

In August last year, these initiatives have been summarized in the law DASKA (the”Act on the protection from the aggression of the Kremlin”), which are drowned in red tape and never reached a vote.

In February 2019, the Republican senators Lindsey Graham and Bob Menendez made a second attempt to push the same initiative, making the Congress a nearly identical bill. The document in addition to the sanctions against the national debt and state banks were asked to restrict the loans in foreign currency to Bank of Russia, including through swap transactions. Under the sanctions was to get loans from the CBR for a period of more than 14 days, which de facto would have extended to it the same sanctions that 2014 is valid for Sberbank, VEB, VTB, Gazprombank and Rosselkhozbank.

However, this bill to bring to a vote failed.

In the summer of amendment on sanctions against Russian government debt has been included in the draft budget of the Pentagon, to ignore which the congressmen could not. The final decision, however, was the softest of all possible.

American investors were forbidden to buy new issues of government debt of the Russian Federation in foreign currency. Sanctions are not forbidden to hold such securities and not the market of Federal loan bonds in rubles.

De facto the Russian Ministry of Finance was closed the ability to place new Eurobonds in dollars. However, due to purchases on the secondary market the share of foreign investors in these securities made up 56.2 per cent at the end of the third quarter.

Capital inflows into the ruble debt was the record: according to the Central Bank, non-residents invested in the BFL 827 billion rubles in January-September, increasing its share from 24.4% to 29.8%, and the portfolio to an unprecedented 2,617 trillion rubles.

In fact, “the current sanctions against Russia are an illusion”, were outraged in August, a Democrat from California Brad Sherman.

“Some people are unable to obtain visas to watch the American Disneyland”, – he described the essence of the restrictions, adding that a “serious mechanism” that would punish Russia for its intervention in the elections of 2016 and would prevent attempts to repeat it.

Such a mechanism, according to Sherman should be sanctions against the ruble debt. The reason for their imposition may be the resumption of the conflict in Syria or the Ukraine, wrote in October, the experts of the world Bank.

The most rigid versions of the sanctions – the ban on dollar transactions of banks or restrictions on dollar payments to the government, which would complicate the ability to service the accumulated foreign currency debt – is unlikely, said analysts at Fitch.

However, the threat of further restrictions on state debt of the Russian Federation “remains high,” warned the Agency, adding that the sanctions will continue to limit the growth of the Russian economy.