Editor's Note: The following are excerpts of U.S. President Barack Obama's July 16 statement on Ukraine from the White House:
“Given its continued provocations in Ukraine, today I have approved a new set of sanctions on some of Russia’s companies and largest financial institutions. Along with our allies, with whom I have been coordinating closely over the last several days and weeks, I have repeatedly made it clear that Russia must halt the flow of weapons and fighters across the border into Ukraine, that Russia must urge separatists to release their hostages and support a ceasefire, that Russia needs to pursue internationally mediated talks and agree to meaningful monitors on the border. I have made this clear directly to Mr. Putin. Many of our European partners have made this clear directly to Mr. Putin. We have emphasized our preference to resolve this issue diplomatically, but we have to see concrete actions and not just words that Russia in fact is committed to try to end this conflict along the Russia-Ukraine border.
So far, Russia has failed to take any of the steps I have mentioned. Russia’s support for the separatists and violations of Ukraine’s sovereignty have continued.
On top of the sanctions we’ve applied before, we’re therefore designating some sectors of the Russian economy as eligible for sanctions. We’re freezing the assets of several Russian defense companies and we’re blocking new financing of some of Russian most important banks and energy companies. These sanctions are significant but they are also targeted, designed to have the maximum impact on Russia while limiting any spillover effects on American companies or those of our allies.
We are taking these steps in close consultation with our European allies. We’re meeting in Brussels to agree on their next steps. We are expecting that the Russian leadership will see once again that its actions in Ukraine have consequences, including a weakening of the Russian economy, and increasing diplomatic isolation.
Meanwhile we are going to continue to stand with Ukrainian people, as they seek to determine their own future. Even in the midst of this crisis, they have made remarkable progress. These past few months, they’ve held democratic elections, they’ve chosen a new president, they’re pursuing important reforms and they’ve signed a new association agreement with the European Union. And the United States will continue to offer our strong support to Ukraine to help stabilize its economy and defend its territorial integrity, because like any people Ukraine has deserved its right to forge its own destiny.”
US President Barack Obama announces deeper sanctions against Russia on July 16.
Here are links to the U.S. Treasury Department statements outline the details of the new sanctions:
http://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20140716.aspx
http://www.treasury.gov/ofac/downloads/ssi.pdf
http://www.treasury.gov/press-center/press-releases/Pages/jl2572.aspx
