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The Hill
Obama: New
sanctions against Russia will 'have an even bigger bite'
By Rebecca Shabad
07/29/14
The United States and Europe imposed a new round of sanctions against
Russia on Tuesday for its assistance to rebels in eastern Ukraine who
have been blamed for the downing of Malaysia Airlines Flight 17.
“Because we’re closely coordinating our actions with Europe, the
sanctions we’re announcing today will have an even bigger bite,” Obama
said in a statement from the White House.
European leaders had long resisted stronger sanctions against Russia,
fearing the move could backfire on their own economies and threaten
their energy supplies.
But the dramatic crash of the Malaysia Airlines Flight — which killed
nearly 300 people — put new pressure on the leaders of Britain, France,
Germany, and Italy, who spoke with Obama Monday on a video conference
call.
The sanctions announced by the European Union limit the access of
Russia’s state-owned banks to capital markets, prevent future arms
sales to Russia and ban exports of certain goods to Russian military
buyers.
“We are united in our view that the situation in Ukraine ought to be
resolved diplomatically,” Obama said.
“We’ve also made it clear, as I have many times, that if Russia
continues on its current path, the cost on Russia will continue to
grow. Today is a reminder that the United States means what it says.”
The sanctions announced by the United States, meanwhile, target
Russia’s state-owned United Shipbuilding Corporation, which constructs
navy vessels, and three major Russian banks: VTB Bank, Bank of Moscow
and Russian Agricultural Bank...
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