President Obama says he is preparing “costly sanctions” against Russia in retaliation for their involvement in Crimean secession, saying the US will “isolate Russia” and seriously damage their economy.
The details of the sanctions are scant, but Secretary of State John Kerry said it would include seizing the assets of Russian citizens abroad, travel bans, and potentially kicking Russia out of the G8.
Obama went on to declare Putin “on the wrong side of history,” and demanded that he immediately withdraw all Russian forces from the Crimea. The Crimean parliament is planning a referendum on secession from the Ukraine, and a possible accession back to the Russian Federation.
State Dept. Press Secretary Jen Psaki went on to say that the US is “not just considering sanctions” against Russia, and that the US is planning a series of moves against Russia to follow the sanctions themselves.