EU, US to Enforce New Sanctions Against Russia - East Idaho News
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EU, US to Enforce New Sanctions Against Russia

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Thinkstock 091114 RussiaUkraineMap?  SQUARESPACE CACHEVERSION=1410496413801berean/iStockphoto/Thinkstock(MOSCOW) — President Obama echoed the European Union on Thursday, saying that new sanctions against Russia in relation to its “illegal actions” in regards to Ukraine will be put into effect.

The latest measures, adopted earlier this week, including more restricted access to European Union capital markets and the prohibition of EU loans to five major Russian state-owned banks, three major defense companies and three major energy companies, will go into effect on Friday. Herman Van Rompuy, president of the European Council, noted that the measures the EU has taken are reversible and scalable.

President Obama said Thursday that U.S. sanctions would “intensify,” and that they will hit Russia’s “financial, energy and defense sectors.” The White House is expected to outline the specifics of the new sanctions on Friday.

“The international community continues to seek a genuine negotiated solution to the crisis in Ukraine,” Obama said in a statement, encouraging Russian President Vladimir Putin to work with international partners and Ukraine to “reach a lasting resolution.”

“If Russia fully implements its commitments, these sanctions can be rolled back,” Obama noted. “If, instead, Russia continues its aggressive actions and violations of international law, the costs will continue to rise.”


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