Americas...:Obama Signs Russia Sanctions Bill: No Plans to U...

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Obama Signs Russia Sanctions Bill: No Plans to Use it for Now

Local Editor

US President Barack Obama has signed a bill that will allow the White House to levy further economic sanctions on Russia over Ukraine, though the Administration has said it has no immediate plans to introduce them.

"My administration will continue to work closely with allies and partners in Europe and internationally to respond to developments in Ukraine and will continue to review and calibrate our sanctions to respond to Russia's actions," Obama said in a statement. "At this time, the Administration does not intend to impose sanctions under this law, but the Act gives the Administration additional authorities that could be utilized, if circumstances warranted."

"We remain prepared to roll back sanctions should Russia take the necessary steps," he added.

Obama urged for a "diplomatic solution" in accordance with the ceasefire signed in Minsk, which has not been fully complied with, by either the forces of the Kiev government or the Donbas region, where over 4,000 people have died in a conflict that has raged since spring.

"We again call on Russia to end its occupation and attempted annexation of Crimea, cease support to separatists in eastern Ukraine, and implement the obligations it signed up to under the Minsk agreements," Obama said.

The sanctions were to hit Russia's state-owned energy and defense companies.
US entities would be forbidden from investing in gas giant Gazprom, and the company would face additional sanctions if it broke off supplies to key eastern European countries, with whom it has squabbled repeatedly over price. Other sanctions would involve Russia's arms exporter Rosoboron export.

Perhaps most crucially, organizations in the country's embattled financial sector would be barred from dealing with any US banks, a measure similar to that faced by Iran at the low point of the fallout over its nuclear program.

In a related move, the bill authorizes Obama to supply anti-tank weapons, surveillance drones and other sophisticated equipment for Petro Poroshenko's government in Kiev, though White House officials said the President had no immediate plans to allow US weapons to be used to put down the uprising in the east of the country.

Source: News Agencies, Edited by website team