U.S. to Announce New Sanctions Against Russia

By Reuters

July 29, 2014

WASHINGTON — The United States could unveil new economic sanctions on Russia over its support for separatists in eastern Ukraine "as soon as today," White House spokesman Josh Earnest said Tuesday.

The new measures would come as the European Union finalizes sanctions against Russia's financial, defense and energy sectors, its most sweeping sanctions so far.

"This is not the finish line here. We need to assess whether or not these economic costs that are being imposed on Russia have the desired effect," Earnest told reporters in a briefing.

The United States has been working closely with the EU to step up sanctions. Earnest gave no details about the new U.S. sanctions, but said the EU sanctions "will track pretty closely with the previous announcements that have been made by this administration."

The last round of U.S. sanctions, announced on July 17, hit Russia's largest oil producer Rosneft, its second largest gas producer Novatek and its third largest bank Gazprombank, as well as other banks, prominent individuals and the weapons manufacturer Kalashnikov.

U.S. Sanctions on Russia More Shock Than Substance

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