U.S. Works With EU To Straighten Economic Sanctions For Russia
Kat De Guzman | | Aug 31, 2014 11:57 PM EDT |
(Photo : REUTERS/Larry Downing) President Barack Obama addresses the ISIS issue but did not explain further what the next moves will be during his White House Address in the James Brady Press Briefing Room of the White House.
U.S. officials are actively participating in organizing sanctions for Russia as the European Union (EU) is determined to penalize Moscow for worsening the tension in Ukraine last week.
The five-month-long conflict between Ukraine and Russia came close to an end but recent reports about Russian soldiers crossing the border has heightened tensions.
Like Us on Facebook
On Saturday, EU leaders announced that they settled options for the possible new sanctions for Russia. They also talked about back-up plans if and when Moscow decides to pull out from intervening with Ukraine.
On the same day, a spokeswoman for the White House National Security Council confirmed that the U.S. is discussing sanctions and other ways to hold Russia accountable for the illegal actions they committed against Ukraine.
In line with this, a State Department official stated that the U.S. is working closely with Europe and its other allies. However, the official made it clear that the sanctions would not be announced to the public.
European Council President Herman Van Rompuy clarified that they will not set specific criteria for the planned sanctions. Everyone is fully aware that the council has to act quickly since the situation is escalating fast.
U.S. President Barack Obama mentioned this issue during his White House Address on Thursday. He noted that the sanctions against Russia are already effective since they pointed out the weakness of Russia's financial market.
In relation to this, the U.S. sanctions were reportedly designed to pressure those who are close to the decision makers of Russia.
The sanctions carefully considered since Russia's economy and trading has a huge effect on Europe as well as other neutral countries. Business leaders are more concerned with the long-term effect of the sanctions as well as Russia's future growth economically, reports said.
The first sanctions from U.S. and Europe urged Russian nationalist politicians to pressure Western companies doing business in their country, according to a source. Russia's consumer regulator has reportedly shut down multiple branches of McDonald's Corp in Moscow since the conflict began.
The U.S. blocked companies and individuals from providing financial support for major companies as well as transferring technology for Russia's energy industry.
Several lawmakers reacted to the said sanctions being prepped up. Europe and U.S. lawmakers questioned the effectivity of the planned sanctions and for tougher sanction programs.
Senator John McCain of Arizona said stronger sanctions are needed. He also said he will back the Ukrainian army by providing more arms.
Senator Dianne Feinstein, the chairman of the Senate Intelligence Committee, pointed out the bravery and strength of the Russians. She said they will be able to make it through any economic difficulty.
TagsSanction Programs, Barack Obama, European Union, Russia, Ukraine
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?