Posts Tagged ‘berman’

08
June 2012

House panel backs “Magnitsky” sanctions on Russia

Reuters

A congressional committee unanimously approved on Thursday a measure to penalize Russian officials for human rights abuses, adding to tensions with Moscow and complicating White House efforts to pass Russian trade legislation in the coming months.

The House of Representatives Foreign Affairs Committee approved on a voice vote the “Sergei Magnitsky Rule of Law Accountability Act,” named for a 37-year-old anti-corruption lawyer who worked for the equity fund Hermitage Capital. His 2009 death after a year in Russian jails spooked investors and blackened Russia’s image abroad.

The measure has bipartisan support among lawmakers but its prospects for passage in Congress remain uncertain.

The measure would require the United States to deny visas and freeze the assets of Russians linked to Magnitsky’s death. The Obama administration already has imposed visa restrictions on some Russians believed to have been involved in Magnitsky’s death, but kept their names quiet.

The bill would make public the list of alleged offenders, broaden it to include other abusers of human rights in Russia and prohibit them from doing their banking in U.S. institutions.

Russian officials have warned that the bill would harm American-Russian relations, and U.S. business groups say it could hurt their interests in Russia.

The White House worries the bill will get embroiled in President Barack Obama’s efforts to reap the trade benefits of Russia’s looming entry into the World Trade Organization, a key achievement of the “reset” in U.S.-Russia ties of recent years.

Approval by the panel was just the first step in advancing the Magnitsky bill by Democratic Representative Jim McGovern through the Republican-controlled House. Before it can get a vote of the full House, two more committees must approve it or waive jurisdiction. The Democratic-controlled Senate has not acted on a similar bill by Senator Ben Cardin, a Democrat.

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08
June 2012

US House Panel Approves Magnitsky Bill

Wall Street Journal

A U.S. House committee approved legislation — without debate — that would punish Russian human-rights violators.

The legislation was named for Sergei Magnitsky, a lawyer for Hermitage Capital Management who has been lionized around the world as a martyr and a whistleblower after he made allegations of a huge fraud scandal in Russia and died while in the hands of Russian authorities.

The scandal involved the alleged theft of hundreds of millions of dollars from Hermitage by Russian police, tax officials and others. Magnitsky had testified to Russian prosecutors in October 2008 but he was arrested and remanded to the very officials he accused in his testimony.

As the scandal unfolded, the U.S. created a secret visa blacklist of those it said were involved in the case. Moscow responded with its own list. The bill would make the U.S. list public, broaden it to include other human-rights abusers and ban those on the list from banking at U.S. financial institutions.

Russia has vowed to retaliate if the legislation becomes law, though it faces an uncertain future in an election year, according to a Dow Jones Newswires report.

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