Washington hopes Russia will change its tune on Ukraine and is working with others to ensure that sanctions will cost Moscow dearly if it does not, U.S. Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen said Wednesday.
Briefing journalists in Paris during a tour of European capitals, Cohen said: "We are moving in a strong and systematic way to maximize the cost on Russia … while minimizing to the extent possible the spillover on other economies including those here in Europe."
The U.S. and European countries all agreed that the principle of having to sanction Russia was more important than the inevitable collateral impact on U.S. or EU business, Cohen said.
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