Throughout the day, President Obama has continued to play up the idea of “costly sanctions” being imposed on Russia, and the first move come this evening, with officials announcing the cancellation of upcoming trade and investment talks with Russia.
And while the European Union seems extremely reticent about launching an economic war against Russia out of spite for their involvement in Crimean secession, the State Department is insisting that is only the beginning.
Obama has promised “costly sanctions” on Russia, and State Department officials say that they are “not just considering sanctions” but a whole series of moves designed to punish Russia.
Officials have in particular played up the idea of travel bans for Russian officials and seizing the assets of Russian investors abroad, and Secretary of State John Kerry suggested the US might kick Russia out of the G8.
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