Weather Quotes Headline News Market News Livestock DTN Ag Headlines Portfolio Sports Options Hay & Feed News AgBizDir.com
 First National Bank in Ord
  Home  
  Ord Community Calendar  
  Sargent Community Calendar  
  Greeley Community Calendar  
  RATES AND FORMS  
  ONLINE BANKING/BILL PAYMENT  
  Contact Us/Bank Hours  
  Links  
  HEARTBLEED ALERT  
  FDIC Insurance  
  PRIVACY Notice  
  IDENTITY THEFT  
  Terms Of Use  
  ATM Safety  
  SAFE ONLINE BANKING  
  First National Bank's 50 Year Bankers  
 
 
Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
US, EU Preparing New Russia Sanctions  07/29 06:14

   BRUSSELS (AP) -- The United States and the European Union are preparing a 
powerful one-two punch against the Russian economy, with EU ambassadors meeting 
Tuesday to discuss a dramatic escalation in the trade bloc's sanctions.

   Frustrated by the apparent ineffectiveness of previous sanctions and 
outraged by the deaths of 298 people aboard the Malaysia Airlines plane downed 
over eastern Ukraine, ambassadors were considering measures include limiting 
Russia's access to European capital markets and halting trade in arms and 
dual-use and sensitive technologies.

   A decision on new EU sanctions was expected later in the day.

   In a rare videoconference call with President Barack Obama on Monday, the 
leaders of Britain, Germany, Italy and France expressed their willingness to 
adopt new sanctions against Russia in coordination with the United States, an 
official French statement said. The Western nations are demanding Russia halt 
the alleged supply of arms to Ukrainian separatists and other actions that 
destabilize the situation in eastern Ukraine.

   The show of Western solidarity comes as the U.S. accuses Russia of ramping 
up its troop presence on its border with Ukraine and shipping more heavy 
weaponry to the pro-Moscow rebels.

   "It's precisely because we've not yet seen a strategic turn from (Russian 
President Vladimir) Putin that we believe it's absolutely essential to take 
additional measures, and that's what the Europeans and the United States intend 
to do this week," said Tony Blinken, Obama's deputy national security adviser.

   Europe, which has a much bigger trade relationship with Russia than the 
U.S., had lagged behind Washington with its earlier sanctions package, in part 
out of concern from leaders that the penalties could hurt their own economies. 
But a spokesman for British Prime Minister David Cameron said following 
Monday's call that the West agreed that the EU should adopt a "strong package 
of sectoral sanctions as swiftly as possible."

   Until now, the trade bloc has only targeted specific individuals, businesses 
or rebel organizations.

   Paul Ivan, a policy analyst with the European Policy Center, a 
Brussels-based think tank, said the Europeans have decided to get tougher with 
Russia for several reasons, including the Kremlin repeatedly ignoring their 
demands to calm the situation in Ukraine, and the widespread shock and anger 
aroused by the downing of a Malaysian jetliner in eastern Ukraine. The Obama 
administration has blamed pro-Moscow insurgents for the July 17 disaster, in 
which 298 people, many of them EU nationals, lost their lives.

   "I think EU leaders realized that this is not just a small localized 
conflict that they can half-ignore and the feeling of moral outrage has forced 
even the more reluctant ones to follow," Ivan said.

   On Monday, EU ambassadors also agreed to bring pressure to bear on 
influential Russians, potentially including members of Putin's inner circle and 
support base, by allowing EU-wide asset freezes and travel bans to apply to 
Russians who have supported or benefited from the Kremlin's takeover of Crimea. 
The ambassadors also agreed to target additional organizations and businesses 
for sanctions because of their alleged actions in violation of Ukraine's 
territorial integrity. Those measures were expected to take effect as early as 
Wednesday evening.


(KA)


 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN