The US has expanded sanctions against Russia over its role in Ukraine.
It follows agreement by European leaders to slap on their own new economic restrictions marking a new phase in the West’s confrontation with Moscow.
“We are blocking the exports of specific and technologies to the Russian energy sector, we’re expanding our sanctions to more Russian banks and defence companies and we are formally suspending credit that encourages exports to Russia and financing for economic development projects in Russia. At the same time the European Union is joining us in imposing major sanctions on Russia. (…) It’s not a new cold war, what it is is a very specific issue about Russia’s unwillingness to recognise that Ukraine can chart its own path,” announced President Obama speaking at the White House.