US announces further sanctions against Russia

The US Treasury Department is set to freeze assets and bar business with Aktsionerny Bank of the Russian Federation, also known as Bank Rossiya.

Senior officials said the bank held significant assets of the Russian ruling elite and key figures around Russian President Vladimir Putin.

“Bank Rossiya’s shareholders include members of Putin’s inner circle associated with the Ozero Dacha Cooperative, a housing community in which they live,” the US Treasury said.

“Russia must know that further escalation will only isolate it further from the international community,” Obama said at the White House while announcing further sanctions against Russia following its annexation of Crimea after an “illegal” referendum.

The new measures targeted a new list of 20 lawmakers and senior government officials in addition to 11 people already sanctioned by Washington.

“This is not our preferred outcome,” Obama said, warning that the moves would have a “significant impact” on the Russian economy.

 

 

 

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