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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US imposes new wide-ranging sanctions on Russia

President Barack Obama has announced the most wide-ranging sanctions yet on the Russian economy, targeting key institutions over the crisis in eastern Ukraine. He said the sanctions are "designed to have the maximum impact on Russia."