US, Europe impose tough new sanctions on Russia

FILE - In this Wednesday, July 16, 2014 file photo, Russia's President Vladimir Putin he arrives for an official group photo during the BRICS summit at the Itamaraty palace, in Brasilia, Brazil. Frustrated by the apparent ineffectiveness of previous sanctions and outraged by the deaths of 298 people aboard the Malaysia Airlines plane downed over eastern Ukraine, the European Union adopted tough new economic sanctions against Russia on Tuesday, July 29, 2014 EU officials and diplomats said. (AP Photo/Felipe Dana, File )
FILE - In this Wednesday, July 16, 2014 file photo, Russia's President Vladimir Putin he arrives for an official group photo during the BRICS summit at the Itamaraty palace, in Brasilia, Brazil. Frustrated by the apparent ineffectiveness of previous sanctions and outraged by the deaths of 298 people aboard the Malaysia Airlines plane downed over eastern Ukraine, the European Union adopted tough new economic sanctions against Russia on Tuesday, July 29, 2014 EU officials and diplomats said. (AP Photo/Felipe Dana, File )

WASHINGTON (AP) — President Barack Obama has announced new economic sanctions against key sectors of the Russian economy in the latest move by the U.S. to force Russian President Vladimir Putin to end his support for Ukrainian rebels.

Obama says the sanctions target Russia’s energy, weapons and finance industries, including big banks.

The U.S. penalties follow other new sanctions that European Union leaders agreed to earlier Tuesday.

The European penalties are similar to sanctions imposed by the U.S. just two weeks ago targeting other big Russian banks, and energy and defense companies.

The U.S. and its European allies blame Russian-supported separatists for destabilizing eastern Ukraine and for this month’s downing of a commercial airplane carrying 298 people as it flew over rebel-controlled territory.

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