US imposes broader sanctions against Russia
Nhat Quynh – VOV in Washington -  
(VOVworld) – The
US will block the exports of
specific goods and technologies to the Russian energy sector and suspend
credits and financing for economic development projects in Russia. US
President Barack Obama told reporters at the White House on Wednesday that the
newly announced sanctions will prohibit US companies and citizens from trading
with 3 major Russian banks namely the Bank of Moscow, the Russian Agriculture
Bank, and the VTB Bank. The economic measures also target the United
Shipbuilding Corporation, a Russian defense technology company. This is
considered the most severe punishment by the US since the Ukrainian crisis broke
out.
President Obama
said: “Because we’re closely coordinating our actions with Europe,
the sanctions we are announcing today will have even a bigger bite. Russia’s actions in Ukraine and the sanctions we are to
impose have made a weak Russian economy even weaker.”
Obama noted that
foreign investors will withdraw 100 billion USD from Russia in the future. But he said
the new sanctions are not a sign of a new Cold War between the West and Russia.
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President Barack Obama speaks to reporters about new sanctions imposed on Russia.
(Photo: Reuters) |
On Tuesday, the
European Union agreed on sanctions against several Russia’s financial organizations,
limiting their approach to EU capital. The sanctions will block new arms
contracts between Russia and
the Europe and ban the exports of energy appliances and goods to Russia that can
be used for both military and civilian purposes. If imposed simultaneously,
these sanctions will be the hardest that the US and Europe have imposed on Russia since
the Cold War.
Nhat Quynh – VOV in Washington