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U.S. expands economic sanctions on Russia

Tuesday, July 29, 2014 - 01:36

President Barack Obama announces the U.S. has expanded sanctions against Russia over its support for rebels in eastern Ukraine, unveiling the steps after the EU agreed to its own new measures against Moscow hours earlier. Jillian Kitchener reports.

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Frustrated by Russia's involvement in Ukraine, US President Obama says he's joining the EU and imposing new sanctions on Moscow. (SOUNDBITE) (English) PRESIDENT BARACK OBAMA SAYING: "We are blocking the exports of specific goods and technologies to the Russian energy sector. We're expanding our sanctions to more Russian banks and defense companies and we are formally suspending credit that encourages exports to Russia and financing for economic development projects in Russia." It's by far the strongest international action yet -- designed to get Russia to stop intruding in eastern Ukraine -- And find a diplomatic solution to end the ongoing conflict. (SOUNDBITE) (English) PRESIDENT BARACK OBAMA SAYING: "This is a choice that Russia, and President Putin, in particular, has made. There continues to be a better choice. The choice of deescalation, the choice of joining the world in a diplomatic solution to this situation." Washington and Ukraine have accused Russia of supplying rebels with heavy weaponry -- including a surface-to-air missile they say, shot down Malaysian Airlines Flight MH17. Meeting with U.S. Secretary of State John Kerry, Ukrainian Foreign Minister Pavlo Klimkin called for an end to the fighting: (SOUNDBITE) (English) UKRAINIAN FOREIGN MINISTER PAVLO KLIMKIN SAYING: "What counts and what is critical is reaching the bilateral ceasefire with the aim of restoring the territorial integrity of Ukraine." But Russian President Vladimir Putin has shown no sign of backing down from a months-long campaign to seize Ukrainian territory.

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U.S. expands economic sanctions on Russia

Tuesday, July 29, 2014 - 01:36

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