Update | US, EU stiffen sanctions against Russia over its support for Ukraine separatists
Both the United States and the European Union applied increased sanctions against Russia on Wednesday as President Obama said Moscow had failed to act
The United States and Europe strengthened sanctions on Moscow over Ukraine on Wednesday, with President Barack Obama taking his first direct swipes in the finance, military and energy sectors of the Russian economy.
The American package of sanctions packed the most punch and drew an angry threat of serious retaliation from Moscow, further escalating the worst stand-off between the Kremlin and the West since the Cold War.
Europe and the United States acted after fighting between the Western-backed Kiev government and pro-Russian separatists took another dangerous turn, with 55 civilians killed since the weekend alone.
“Given its continued provocations in Ukraine ... I have approved a new set of sanctions on some of Russia’s largest companies and financial institutions.”
“Given its continued provocations in Ukraine ... I have approved a new set of sanctions on some of Russia’s largest companies and financial institutions,” Obama said at the White House.
The president said he had repeatedly told Russian President Vladimir Putin to halt the flow of weapons across the eastern Ukraine border and to agree to genuine border monitoring measures.
“Russia has failed to take any of the steps that I mentioned,” Obama said.
“In fact, Russia’s support for the separatists and violations of Ukraine’s sovereignty have continued.”