Under new legislation approved by a hesitant President Obama, economically fragile Russia will be hit with more sanctions for violating Ukraine’s soverignty. The new sanctions will penalize Russia’s defense and energy sectors, preventing investments and imports into the country, which is already seeing capital flee thanks to the ruble’s rapid devaluation. Meanwhile, Ukraine will receive $350 million in military aid from the U.S., including weapons and surveillance equipment. Obama’s decision comes days after the measures were unanimously approved by Congress, though he seemed to be worried more sanctions would complicate relations with sanctions-skeptical Europe. Obama has previously cut off Russia’s major banks from American creditors while preventing Putin’s associates from entering the U.S.
TOP 10 RIGHT NOW