The Obama
administration has hit Russia with what Reuters
describes as the “toughest” and “most wide-ranging sanctions
yet” over the nation’s ongoing instigation of instability in
Ukraine.
In light of renewed bloodshed, President Obama criticized
that the Kremlin has so far not taken real steps to rein in
militias that are trying to capture eastern Ukraine for Russia.
Additionally, reports indicate that as of yesterday, Russia is
again massing as many as
12,000 troops along their border.
The Treasury Department
assured in a press release that its latest “actions do
more than build upon previous steps to impose costs on separatists
and the Russian government. By imposing sanctions on entities
within the financial services and energy sectors, Treasury has
increased the cost of economic isolation for key Russian firms that
value their access to medium- and long-term U.S. sources of
financing.”
The department “imposed sanctions that prohibit U.S. persons
from providing new financing to two major Russian financial
institutions (Gazprombank OAO and VEB) and two Russian energy firms
(OAO Novatek and Rosneft), limiting their access to U.S.
capital markets.”
Also “cut off… from the U.S. financial system and the U.S.
economy” are eight arms firms that are believed to be supplying the
separatist forces with weapons. Four high-ranking officials,
including a personal aide to Putin and the head of Russia’s Federal
Security Service (the modern incarnation of the KGB) are on the
list as well.
European Union countries coordinated
with the U.S. and created sanctions of their own.
Putin responded
to the situation yesterday warning, “I am certain that this is
harmful to the U.S. Administration and American people’s long-term
strategic national interests. … Sanctions have a boomerang
effect and without any doubt they will push U.S.-Russian
relations into a dead end, and cause very serious
damage.” Putin was at a two-day meeting with other “BRICS”
countries – Brazil, India, China, and South Africa – working to
“prevent the harassment of countries that do not agree with some
foreign policy decisions made by the U.S. and their allies,” as he
put it.
In other Ukraine-related news, NATO just concluded some
military exercises on the Black Sea. And, apparently a
Malaysian passenger airline has crashed along the Russian border
earlier today.
For more Reason coverage of Ukraine, click here.
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