Tags: obama | sanctions | russia | putin

Obama Orders New Sanctions on Russian Officials to Press Putin

Thursday, 20 Mar 2014 12:17 PM

President Barack Obama said the U.S. is imposing financial sanctions on a wider swath of Russian officials and a Russian bank as he authorized further penalties that would directly target sectors of the Russian economy.

Russia’s incursion into Ukraine and continuing military movements carry “dangerous risks of escalation,” Obama said on the South Lawn of the White House.

Obama’s action adds to the list of seven top Russian officials and four people from Ukraine who were subjected to sanctions earlier this week.

“We’re imposing sanctions on more senior officials of the Russian government,” Obama said. “In addition, we are today sanctioning a number of other individuals with substantial resources and influence who provide material support to the Russian leadership, as well as a bank that provides material support to these individuals.”

The bank is Bank Rossiya, based in St. Petersburg, according to a U.S. Treasury e-mailed document.

He also signed a new executive order authorizing, though not implementing, economic sanctions affecting parts of the Russian economy, which he didn’t specify.

“These sanctions would not only have a significant impact on the Russian economy, but also could be disruptive to the global economy,” he said.

European Trip

Obama is set to travel next week to Europe, where he’ll consult with European Union officials about coordinated action to increase pressure on Russia. EU leaders meet today to try to formulate a unified position.

North Atlantic Treaty Organization Secretary General Anders Fogh Rasmussen yesterday called Russian President Vladimir Putin’s takeover of Crimea “the gravest threat to European security and stability since the end of the Cold War.”

The government in Kiev said yesterday it plans to reinforce its eastern border with Russia and withdraw troops from Crimea, ceding control of the Black Sea peninsula as tensions remained high over Russian moves to annex the breakaway region.

Obama has emphasized that there are no plans to confront Russia militarily.

“We do not need to trigger an actual war with Russia,” Obama said in an interview with St. Louis television station KSDK recorded at the White House yesterday. “The Ukrainians don’t want that, nobody would want that.”


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President Barack Obama said the U.S. is imposing financial sanctions on a wider swath of Russian officials and a Russian bank as he authorized further penalties that would directly target sectors of the Russian economy.
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2014-17-20
Thursday, 20 Mar 2014 12:17 PM
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