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Russia selling off US securities in wake of new sanctions

Russia selling off US securities in wake of new sanctions

Russia's finance minister said Sunday that the country would lower its investment in U.S. securities, calling new sanctions from the Trump administration "unpleasant but not fatal."

Reuters reported that Finance Minister Anton Siluanov said on state television that Russia will decrease its investment in the U.S. economy "to the minimum level." However, the country will not shut down U.S. companies operating in Russia.

“Eventually, this will negatively impact U.S. investors. But we are not planning now any limitations such as shutting down McDonalds,” Siluanov said.

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He added that there are no plans to ban the use of the dollar in Russia.

Russia previously blasted the Trump administration's decision to implement additional sanctions last week as a "declaration of economic war."

The U.S. last week slapped sanctions on Russia for the use of a nerve agent on ex-Russian spy Sergei Skripal and his daughter in Britain earlier this year.

The sanctions, which will go into effect about Aug. 22, will restrict the licenses granted for exports of national security goods and technologies to Russia.

A second, more punishing round of sanctions could be imposed in 90 days if Russia does not prove it is no longer using chemical weapons.

Russia has continued to deny involvement in Skripal's poisoning.