March 20, 2014 | Quote
Obama Says U.S. Enacting Fresh Penalties on Russia for Annexing Crimea
President Barack Obama ordered a second round of sanctions Thursday on 20 Russians and a St. Petersburg bank in a fresh rebuke to President Vladimir Putin for his decision to annex Crimea.
Russia quickly responded with its own list of sanctions against six U.S. lawmakers and three White House officials.
But the more aggressive steps by the Obama administration—against the high-profile Bank Rossiya and some of Mr. Putin's wealthiest and most influential supporters—marked an escalation of the U.S. financial assault against Russia.
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“It makes Bank Rossiya radioactive,” said Mark Dubowitz, executive director of the Foundation for Defense of Democracies, a think tank that has advised Congress on sanctions issues.