BREAKING NEWS

Obama expands US sanctions on Russians over Ukraine annexation

By REUTERS

MARCH 20, 2014 17:48

US President Barack Obama on Thursday announced further sanctions against prominent Russians and cleared the way for possible sanctions on key sectors of the Russian economy in response to Moscow's seizure of the Crimea region from Ukraine.

The US president, speaking at the White House, said Russia's threats to southern and eastern Ukraine posed a serious risk of escalation of the crisis in the region.

"We're imposing sanctions on more senior officials of the Russian government. 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 White House, which on Monday announced a first round of sanctions against 11 Russians and Ukrainians it said were involved with the Crimea annexation, was expected to detail the targets of the expanded sanctions shortly after Obama spoke.

Obama said he had signed a new executive order expanding the US government's authority to take measures against economic sectors.

"This is not our preferred outcome... However, Russia must know that further escalation will only isolate it further from the international community," the president said. He was speaking on the White House south lawn before leaving on a trip to Florida.

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