© Michael Weber / Global Look Press
A wide range of American conglomerates, including oil, energy, banking, aerospace, auto and heavy manufacturing enterprises have jointly started a lobbying campaign against the new round of sanctions against Russia passed by the US Senate, CNN reports.
BP, ExxonMobil, General Electric, Boeing and Citigroup, MasterCard and Visa are reportedly among the companies raising concerns the punitive measures will ultimately harm their businesses, rather than the Kremlin.
Ford, Dow Chemical, Procter & Gamble, International Paper, Caterpillar, and Cummins have reportedly warned the measure could impact their businesses as well.
The new bill, aimed at punishing Russia for alleged meddling in the US presidential election, was approved last month. The measures target already sanctioned Russian banks and energy sector, limiting the financing period for them to 14 and 30 days respectively.
Comment: That new strategy would be: 'Iran is no longer compliant, so, uhm, we'll just have to live with it.'