President Obama today unveiled a handful of new sanctions against Russia, saying the moves aimed to force Russia to change its behavior with respect to Ukraine, and that much worse sanctions remain in serve.
The sanctions targeted a handful of people believed to be close allies of President Vladimir Putin, including oil magnate Igor Sechin, the first time US sanctions ventured into Russia’s energy sector in even an insignificant way.
Russian officials were critical of the move, saying it amounted to a return to Cold War-era practices by the US, and was if anything limiting the chances for diplomacy.
Putin’s top economic adviser also dismissed the move as woefully ineffective, saying the sanctions would encourage some consolidation among targeted officials to avoid future US sanctions, but would not have a major effect on Russia’s economy.
