Whether he likes it or not, President Donald Trump will have to accept
Russia's hopes for removing the sanctions imposed by the Magnitsky Act are "gone" now that Congress has passed this new bill so unanimously, said the founder and CEO of Hermitage Capital Management.
"These sanctions will not go away," Browder said on CNBC's "Power Lunch" Thursday.
"To the extent that the president wants to be nice to Russia, he's going to have to find issues to be nice to Russia that don't include sanctions, because we now have sanctions completely locked up via an act of Congress," he said.
The new bill essentially cements the Magnitsky sanctions into law by requiring congressional approval to have them repealed. The president would be required to inform Congress of his intention to alter U.S. policy on Russian sanctions. Congress would have 30 days to block the president from doing so.
"They're effectively tying the president's hands," said Browder, who supports Russian sanctions and the current bill that would preserve them.
The Trump administration, for its part, has floated the possibility of the president vetoing the sanctions bill.