U.S. Announces More Sanctions Against Russians Amid Ukraine Crisis

Officials and companies targeted.

Today it was announced that the Obama administration would be imposing sanctions on seven additional Russian officials and 17 companies amid the ongoing crisis in Ukraine.

The sanctions include visa bans and asset freezes for seven government officials close to Russian President Vladimir Putin.

According to the White House statement on the sanctions, 13 of the targeted companies will be subject to certain restrictions:

…the Department of Commerce has imposed additional restrictions on 13 of those companies by imposing a license requirement with a presumption of denial for the export, re-export or other foreign transfer of U.S.-origin items to the companies.  Further, today the Departments of Commerce and State have announced a tightened policy to deny export license applications for any high-technology items that could contribute to Russia's military capabilities.

Reuters is reporting that the European Union is expected to also impose more penalties on Russia.

Over the weekend leaders of the G7 agreed to intensify sanctions on Russia, and British Foreign Secretary William Hague said that damage to the British economy caused by sanctions on Russia would be a "price worth paying."

Background on Ukraine Crisis Sanctions

The sanctions announced today are only the latest attempt by the Obama administration to punish Russia for its recent behavior related to the crisis in Ukraine. Last month, in the wake of the controversial Crimea annexation referendum, President Obama signed an executive order expanding already existing sanctions, including asset freezes and travel bans, to 11 Ukrainian and Russian officials.

Soon after the Obama administration targeted the 11 Ukrainian and Russian officials, Obama announced more sanctions, which targeted some wealthy Russians, a Russian bank, and more officials.

The E.U. imposed similar sanctions on selected Russian and Ukrainian officials. Reason 24/7 wrote about the E.U. and U.S. sanctions that were imposed after the Crimea referendum, read that post here.

Reason on Sanctions

Zenon Evans on how sanctions against Russia could have affected a Miley Cyrus concert in Finland. It was later reported that Cyrus would be able to perform at Hartwall Arena, a venue in Helsinki owned by a Russian targeted by sanctions.

Steve Chapman on why sanctions against Russia are futile.

More from Reason on Ukraine here.

Comments

[kenezen]

Let's see! Russia is upset with president Obama over Ukraine as is China because of his siding with Japan. I wonder what might happen if they begin selling our treasuries back to us. It's good to disagree but wise to understand the feelings of your banks who are funding you!

[bassjoe]

Hooray! Sanctions work great. Just look what happened to Fidel Castro!

Oh, you say he retired after 40 years of rule and handed power over to his brother? Never mind.

[kenezen]

What a hypocritical policy! Our president is taking action to increase sanctions on Russia that doesn't come close to the money we pay each time we have to hire their rockets to go put a "Heavy lift satellite up or go the our own Space Station because our idiot Washington leaders decided to shut down one of our most important defense mechanisms we will sorely need, our Space program. We take pennies from Russia in fines then quietly pay Russians billions for using their rockets!

We used to be the leaders in the Space arena and the "Heavy Lift" capability and now our security as a nation is threatened because this biased president believes we don't need to keep up with Russia and China who are pushing as rapidly as they can into "Heavy Lift" capability which is necessary if one wishes to place weapons platforms in space. AMAZING how with this President how we've fallen to third world status!! WAKE UP!

[kenezen]

Russia should be one of our staunchest allies and President Obama's best friend, two socialistic Presidents. Unfortunately the two are at separate stages of development. Putin already is in full Dictatorial control and Obama is still cementing all aspects of control before finally instituting the final steps. I think the rivalry is more theatre or perhaps envy on Obama's part.
President Obama did strip and destroy our space effort in "Heavy Lift" the real future of Space to nothing then paid hundreds of millions to Putin for his rockets leaving us vulnerable to Russia. That's a sign of willing capitulation in a vital part of our future defense.
I think that after our takeover they'll patch thing up and become bosom buddies! The economy under the president's careful guidance is a complete wreck perfect for the future intended.