PARIS May 7 Washington hopes Russia will change
its tune on Ukraine and is working with others to ensure that
sanctions will cost Moscow dearly if it does not, U.S. Treasury
Undersecretary for Terrorism and Financial Intelligence David
Cohen said on Wednesday.
Briefing journalists in Paris during a tour of European
capitals, Cohen said: "We are moving in a strong and systematic
way to maximise the cost on Russia ... while minimising to the
extent possible the spillover on other economies including those
here in Europe."
The United States and European countries all agreed that the
principle of having to sanction Russia was more important than
the inevitable collateral impact on U.S. or EU business, Cohen
The Obama administration is working on new sanctions that
would be imposed on Russia should it dramatically ramp up
aggression against Ukraine through measures such as preventing
elections from taking place in much of the country or
recognizing another separatist referendum.
(Reporting by Ingrid Melander; Writing by Brian Love; Editing
by Andrew Callus)