US Escalating Economic Sanctions Against Russia
The United States imposed new sanctions Wednesday on lucrative Russian energy and defense entities, as well as major banks, as the Obama administration struggles for a way to quell an insurgency in eastern Ukraine widely believed to be backed by Moscow. The penalties significantly expand on previous U.S. sanctions, which were limited to Russian individuals and companies. But the new sanctions still stop short of fully cutting off key Russian economic sectors, a step U.S. officials said they were continuing to hold in reserve in case Moscow launches a full-scale invasion of Ukraine or takes similarly provocative actions. Obama was expected to speak about the sanctions from the White House Wednesday afternoon. The Treasury Department sanctions target two major Russian energy firms, Novatek and Rosneft, and a pair of leading Russian financial institutions, Gazprombank and VEB. Officials said, the sanctions restrict the entities' ability to access U.S. capital markets. http://apne.ws/1spP52e http://bit.ly/1fJ5yqZ
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