News / Europe

Russia Lashes Out at Latest Western Sanctions

A sign showing the logo of Russia's VTB Bank is seen along a road in Moscow, July 17, 2014.
A sign showing the logo of Russia's VTB Bank is seen along a road in Moscow, July 17, 2014.
VOA News

Russia is lashing out at new U.S. and European economic sanctions imposed to protest what the West sees as Moscow's intervention in Ukraine.

The Russian Foreign Ministry Wednesday called new restrictions targeting the Russian energy, defense, technology and finance sectors "destructive and short-sighted."  It said Washington is behaving in a "pretentious, prosecutorial manner" that will lead to "further aggravation of U.S.-Russia relations."

The new sanctions, the strongest against Moscow since the Cold War, are aimed at further weakening a Russian economy already sliding toward recession.  U.S. officials say the newest restrictions could affect 30 percent of Russia's banking sector, with other sanctions curbing exports and business with Russian companies.

New US, EU sanctions on Russia

  • Until July 29, 2014, sanctions solely targeted individuals and organizations accused of directly threatening Ukraine and its interests
  • New sanctions prohibit Russian state-owned banks from raising funds in Western capital markets
  • About 30% of Russia’s banking sector will be impacted
  • Energy-related technology used for Russia’s oil exploration and development is blocked
  • Affected areas include technology relating to deep-water or Arctic drilling and exploration projects
  • EU officials say the ban extends to about 10% of overall energy exports to Russia
  • Restrictions on Russian arms exports
  • A ban on trade of dual-use sensitive defense technologies with Russia

Sources: Reuters and multiple news reports

The European Union said it also is targeting eight assitional individuals with sanctions, including three men it identified as close associates of Russian President Vladimir Putin. The EU described one of those sanctioned, Arkady Rotenberg, as Putin's former judo sparring partner and owner of companies that won lucrative contracts at the Sochi Winter Olympics.

German Vice Chancellor Sigmar Gabriel, along with economic analysts, said the sanctions will soon impact the Russian economy.

"I think they will very quickly show an effect, because the Russian economy is not in a good shape and of course those who are affected by [the sanctions], the Russian oligarchs, won't want their opportunities to move, and their investment of money freely in Europe, to be limited," said Gabriel.

The U.S. and the EU are protesting Russia's annexation of Ukraine's Crimean peninsula, its alleged support of pro-Russian separatists fighting against Kyiv in eastern Ukraine and its suspected role in the downing of a Malaysian passenger jet, which killed all 298 people aboard.

Western officials say the plane was struck with a Russian-made missile likely fired by rebels who mistakenly thought they were targeting a Ukrainian military aircraft.

The International Monetary Fund has slashed its 2014 economic growth forecast for Russia to nearly zero, down from 1.3 percent last year.

One key Russian lawmaker, Alexei Pushkov, said that with the sanctions, President Barack Obama will go down in history as a U.S. president who started a new Cold War.  The American leader earlier denied such contentions, saying the sanctions are aimed specifically as a response to Russia's actions in Ukraine.

You May Like

UN Fears Rights Violations in China-backed Projects

UNHCHR investigates link between financing development and ignoring safeguards for human rights More

Boko Haram Violence Tests Nigerians’ Faith in Buhari

New president has promised to stem insurgency; he’s scheduled to meet with President Obama at White House July 20 More

Social Media Network Wants Privacy in User’s Hands

Encryption's popularity in messaging is exploding; now it's the foundation of a new social network More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Making Music, Fleeing Bombs: New Film on Sudan’s Internal Refugeesi
X
Carolyn Weaver
July 06, 2015 6:47 PM
In 2012, Sudanese filmmaker Hajooj Kuka went to make a documentary among civil war refugees in Sudan’s Blue Nile and Nuba Mountains region. What he found surprised him: music was helping to save people from bombing raids by their own government. VOA’s Carolyn Weaver has more.
Video

Video Making Music, Fleeing Bombs: New Film on Sudan’s Internal Refugees

In 2012, Sudanese filmmaker Hajooj Kuka went to make a documentary among civil war refugees in Sudan’s Blue Nile and Nuba Mountains region. What he found surprised him: music was helping to save people from bombing raids by their own government. VOA’s Carolyn Weaver has more.
Video

Video Rice Farmers Frustrated As Drought Grips Thailand

A severe drought in Thailand is limiting the growing season of the country’s important rice crop. Farmers are blaming the government for not doing more to protect a key export. Steve Sandford reports from Chiang Mai, Thailand.
Video

Video 'From This Day Forward' Reveals Difficult Journey of Transgender Parent

In her documentary, "From This Day Forward", filmmaker Sharon Shattuck reveals the personal journey of her transgender father, as he told his family that he always felt he was a woman inside and decided to live as one. VOA’s Penelope Poulou has more.
Video

Video Floodwaters Threaten Iconic American Home

The Farnsworth House in the Midwest State of Illinois is one of the most iconic homes in America. Thousands of tourists visit the site every year. Its location near a river inspired the design of the house, but, as VOA’s Kane Farabaugh reports, that very location is now threatening the existence of this National Historic Landmark.
Video

Video Olympics Construction Scars Sacred Korean Mountain

Environmentalists in South Korea are protesting a Winter Olympics construction project to build a ski slope through a 500-year-old protected forest. Brian Padden reports that although there is strong national support for hosting the 2018 Pyeongchang Winter Olympics, there are growing public concerns over the costs and possible ecological damage at the revered mountain.
Video

Video Xenophobia Victims in South Africa Flee Violence, Then Return

Many Malawians fled South Africa early this year after xenophobic attacks on African immigrants. But many quickly found life was no better at home and have returned to South Africa – often illegally and without jobs, and facing the tough task of having to start over. Lameck Masina and Anita Powell file from Johannesburg.
Video

Video Family of American Marine Calls for Release From Iranian Prison

As the crowd of journalists covering the Iran talks swells, so too do the opportunities for media coverage.  Hoping to catch the attention of high-level diplomats, the family of American-Iranian marine Amir Hekmati is in Vienna, pleading for his release from an Iranian prison after nearly 4 years.  VOA’s Heather Murdock reports from Vienna.
Video

Video UK Holds Terror Drill as MPs Mull Tunisia Response

After pledging a tough response to last Friday’s terror attack in Tunisia, which came just days before the 10th anniversary of the bomb attacks on London’s transport network, British security services are shifting their focus to overseas counter-terror operations. VOA's Henry Ridgwell has more.
Video

Video Obama on Cuba: This is What Change Looks Like

President Barack Obama says the United States will soon reopen its embassy in Cuba for the first time since 1961, ending a half-century of isolation. VOA White House correspondent Luis Ramirez reports.
Video

Video Hate Groups Spread Influence Via Internet

Hate groups of various kinds are using the Internet for propaganda and recruitment, and a Jewish human rights organization that monitors these groups, the Simon Wiesenthal Center, says their influence is growing. The messages are different, but the calls to hatred or violence are similar. VOA's Mike O’Sullivan reports.
Video

Video Blind Somali Journalist Defies Odds in Mogadishu

Despite improving security in the last few years, Somalia remains one of the most dangerous countries to be a journalist – even more so for someone who cannot see. Abdulaziz Billow has the story of journalist Abdifatah Hassan Kalgacal, who has been reporting from the Somali capital for the last decade despite being blind.
Video

Video Rabbi Hits Road to Heal Jewish-Muslim Relations in France

France is on high alert after last week's terrorist attack near the city Lyon, just six months after deadly Paris shootings. The attack have added new tensions to relations between French Jews and Muslims. France’s Jewish and Muslim communities also share a common heritage, though, and as far as one French rabbi is concerned, they are destined to be friends. From the Paris suburb of La Courneuve, Lisa Bryant reports about Rabbi Michel Serfaty and his friendship bus.

VOA Blogs