US imposes most wide-ranging sanctions on Russia

The United States has imposed its most wide-ranging sanctions yet on Russia's economy over Moscow's "provocative" behavior in Ukraine.

The sanctions included Gazprombank and the Rosneft Oil Co, and other major banks and energy and defense companies.

Washington has steadily escalated its financial sanctions on Russia over what it views as Moscow's interference in its neighbour Ukraine.

President Obama is due to make a statement on sanctions the US might put on Russia over Ukraine.
President Obama is due to make a statement on sanctions the US might put on Russia over Ukraine. Credit: PA

A senior US administration official told reporters on a conference call that the sanctions were designed to avoid spillover risk for the global economy.

President Barrack Obama is due to shortly make a statement on the Russian sanctions, the White House said.

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Russia bans food imports in retaliation to sanctions

Russia has banned the importation of fruit, vegetables, meat, fish and diary imports from the United States, Australia, Canada, the European Union and Norway, Prime Minister Dmitry Medvedev has said. The measures are part of a raft of counter-measures to be imposed after the targeted nations imposed sanctions on Russia over its role in the crisis in Ukraine. The import ban begins today and will last for one year, he added.