Obama says U.S. will announce new sanctions on Russia on Monday

Photo: Obama says U.S. will announce new sanctions on Russia on Monday / Other News

President Barack Obama said on Monday the United States will impose additional sanctions on Russia targeting individuals and companies over the crisis in Ukraine, a move expected to be followed by separate sanctions from the European Union, Reuters reported.

Washington said at the weekend the new sanctions would target individuals and companies close to Russian President Vladimir Putin, as well as new restrictions on high-tech exports to Russia's defense industry.

Obama, speaking in Manila during the final stop of a four-nation Asian tour, said the United States and its allies were also considering a next phase of further sanctions targeting sectors of the economy such as banking and defense.

The United States accuses Russia of not living up to an agreement to defuse tensions in eastern Ukraine, where armed pro-Russian separatists seized about a dozen government buildings.

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