Wednesday, July 30, 2014

U.S., Europe hit Russia with new sanctions

Source: USA Today

President Obama and the European Union imposed new sanctions on Russia Tuesday that they said will further cripple its economy, hopefully forcing President Vladimir Putin to end his support of armed rebels in Ukraine and to seek peace.

While previous sanctions have focused on specific businesses and individuals, the new set is designed to hit major pillars of the Russian economy, including oil and gas supplies and technology, banking and finance, and arms sales. 
The new sanctions also come as the Obama administration accuses the Russians of violating a 1987 arms control treaty by testing new long-range missiles.

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