THE US on Monday slapped sanctions on seven Russian government officials and 17 companies linked to Russian President Vladimir Putin in a fresh attempt to force Moscow to back down from its intervention in Ukraine.
The White House said the third round of sanctions in response to the Ukraine crisis was prompted by Moscow’s failure to adhere to an April 17 agreement in Geneva on ways to resolve the situation.
Officials made clear that sanctions against key sections of Russia’s economy would be imposed‚ including the energy and defence sections‚ should Russia send troops massed along the border into eastern Ukraine.
The seven Russians sanctioned include two Putin allies: Igor Sechin‚ head of Russia’s major oil company Rosneft‚ and Sergei Chemezov‚ head of Rostec‚ a Russian state-owned high-tech products company.
The seven are now subject to a freeze on any assets they hold in the US and a ban on US travel. The 17 companies will be subject to an asset freeze.
Shares on Rosneft promptly fell in response to the sanctions against Sechin.
In addition‚ the US will deny export licence applications for any high-technology items that could contribute to Russian military capabilities.
The Commerce and State Departments would revoke any existing export licences that met these conditions‚ the White House said.
The list did not include gas company Gazprom chief Alexei Miller‚ a close ally of Putin whose name had surfaced as a possible target.
Putin’s top economic adviser‚ Andrei Belousov‚ said on Monday the new round of US sanctions would have little effect on the country’s economy and would only strengthen the resolve of the Kremlin and its allies.
“The more sanctions there are‚ the more strongly the elite will consolidate‚” he told journalists in the northern city of Petrozavodsk‚ where he was accompanying Putin on a visit.
“There will probably be some consequences (for the economy)…but it is unlikely that they will have a serious impact on an operational‚ annual level.”
Several US Republican legislators said on Monday that the latest sanctions were too mild to deter Moscow from further action in Ukraine and demanded broader measures.
Senator Bob Corker‚ the top Republican on the Senate‚ foreign relations committee‚ called the new sanctions “just a slap on the wrist”.
His fellow Republican‚ Senator Dan Coats‚ a former US ambassador to Germany‚ said he was concerned president Barack Obama’s actions were “too little‚ too late”.
All the US and European sanctions against Russia have been aimed at specific individuals and businesses.
American officials said more were being held in reserve should they become necessary.
Obama has drawn fire from Republican critics who think he has not moved aggressively enough in the face of the deepest East-West crisis since the Cold War.
But the American president‚ who is ending a week-long trip to Asia‚ has said should Russia launch a military move deeper into Ukraine‚ America would slap sanctions on Russian economic areas such as the financial services‚ energy‚ metals and mining‚ and engineering and defence sectors.
Senior administration officials said the existing sanctions and threat of more were having an effect on the Russian economy‚ with the ruble suffering and $60-billion (R635-billion) in capital flight. — Reuters
More US sanctions on Russia
The White House said the third round of sanctions in response to the Ukraine crisis was prompted by Moscow’s failure to adhere to an April 17 agreement in Geneva on ways to resolve the situation.
Officials made clear that sanctions against key sections of Russia’s economy would be imposed‚ including the energy and defence sections‚ should Russia send troops massed along the border into eastern Ukraine.
The seven Russians sanctioned include two Putin allies: Igor Sechin‚ head of Russia’s major oil company Rosneft‚ and Sergei Chemezov‚ head of Rostec‚ a Russian state-owned high-tech products company.
The seven are now subject to a freeze on any assets they hold in the US and a ban on US travel. The 17 companies will be subject to an asset freeze.
Shares on Rosneft promptly fell in response to the sanctions against Sechin.
In addition‚ the US will deny export licence applications for any high-technology items that could contribute to Russian military capabilities.
The Commerce and State Departments would revoke any existing export licences that met these conditions‚ the White House said.
The list did not include gas company Gazprom chief Alexei Miller‚ a close ally of Putin whose name had surfaced as a possible target.
Putin’s top economic adviser‚ Andrei Belousov‚ said on Monday the new round of US sanctions would have little effect on the country’s economy and would only strengthen the resolve of the Kremlin and its allies.
“The more sanctions there are‚ the more strongly the elite will consolidate‚” he told journalists in the northern city of Petrozavodsk‚ where he was accompanying Putin on a visit.
“There will probably be some consequences (for the economy)…but it is unlikely that they will have a serious impact on an operational‚ annual level.”
Several US Republican legislators said on Monday that the latest sanctions were too mild to deter Moscow from further action in Ukraine and demanded broader measures.
Senator Bob Corker‚ the top Republican on the Senate‚ foreign relations committee‚ called the new sanctions “just a slap on the wrist”.
His fellow Republican‚ Senator Dan Coats‚ a former US ambassador to Germany‚ said he was concerned president Barack Obama’s actions were “too little‚ too late”.
All the US and European sanctions against Russia have been aimed at specific individuals and businesses.
American officials said more were being held in reserve should they become necessary.
Obama has drawn fire from Republican critics who think he has not moved aggressively enough in the face of the deepest East-West crisis since the Cold War.
But the American president‚ who is ending a week-long trip to Asia‚ has said should Russia launch a military move deeper into Ukraine‚ America would slap sanctions on Russian economic areas such as the financial services‚ energy‚ metals and mining‚ and engineering and defence sectors.
Senior administration officials said the existing sanctions and threat of more were having an effect on the Russian economy‚ with the ruble suffering and $60-billion (R635-billion) in capital flight. — Reuters
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