President Obama announced Thursday that the U.S. would “intensify” sanctions against Russia’s financial, energy and defense sectors, as western powers ratchet up their showdown with Russian President Vladimir Putin over his incursions in Ukraine.
“Together with G-7 and European partners and our other allies, we have made clear that we are prepared to impose mounting costs on Russia,” Obama said. “We are implementing these new measures in light of Russia’s actions to further destabilize Ukraine over the last month, including through the presence of heavily armed Russian forces in eastern Ukraine.”
Obama said the U.S. government has yet to see a clear commitment from Russia to destabilize the situation in Ukraine after an announced cease-fire between Russian and Ukrainian officials.
Administration officials will officially detail the sanctions on Friday, the president added. The economic penalties are being announced in coordination with similar sanctions by the European Union against Russia.
“These measures will increase Russia’s political isolation as well as the economic costs to Russia, especially in areas of importance to President Putin and those close to him,” Obama predicted.
And the president said the U.S. would not consider reducing sanctions unless Putin changed course in Ukraine.
“As I said last week, if Russia fully implements its commitments, these sanctions can be rolled back,” Obama said. “If, instead, Russia continues its aggressive actions and violations of international law, the costs will continue to rise.”
