U.S. Sanctions Russian Economy

 

Speaking from the South Lawn of the White House Thursday, President Obama unveiled new sanctions against Russian officials and a bank, declaring, "This is not our preferred outcome. These sanctions would not only have a significant impact on the Russian economy, but could also be disruptive to the global economy. However, Russia must know that further escalation will only isolate it further from the international community." He also signed an executive order Thursday that the White House says will give the U.S. authority to impose sanctions on "key sections of the Russian economy." The move comes just hours after Russia's lower parliament ratified a treaty making Crimea a part of the Russian Federation, and just a few days after the president announced sanctions against Russian officials close to President Vladimir Putin.