U.S. expands economic sanctions on Russia over Ukraine
Obama said the new U.S. sanctions block the exports of specific goods and technologies to the Russian energy sector, expand sanctions to include more Russian banks and defense companies, and formally suspend credit that encourages exports to Russia and financing for economic development projects in Russia.
The United States slapped sanctions on VTB, the Bank of Moscow, the Russian Agriculture Bank and the United Shipbuilding Corp over Moscow’s support for separatists in eastern Ukraine, the Treasury Department said.
“Major sanctions we’re announcing today will continue to ratchet up the pressure on Russia, including the cronies and companies that are supporting Russia’s illegal actions in Ukraine,” Obama added.
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