Obama: New sanctions to make Russia’s weak economy even weaker

The coordinated introduction of new EU and U.S. sanctions against the Russian energy sector, defense industry and financial institutions will increase the pressure on Russia.
U.S. President Barack Obama said this in his speech at the White House on Tuesday.
“Because we are closely coordinating our actions with Europe, the sanctions we are announcing today will have an even bigger bite. The sanctions introduced will make a weak Russian economy even weaker. Foreign investors, already, are increasingly staying away. Even before our actions today, nearly $100 billion in capital was expected to flee Russia,” quoted by RFE.
The list of new U.S. economic sanctions against Moscow includes three Russian banks – Bank of Moscow, Russian Agricultural Bank and VTB Bank, as well as the United Shipbuilding Corporation.
New U.S. restrictions come after the EU strengthened sanctions against Russia on Tuesday.

30.07.2014 11:54

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