In a step that is further going to create tension between Russia and Western nations, new financial sanctions have been imposed on Russia by the United States, Canada and the European Union.
The sanctions are pertaining to Russia’s annexation of the Crimean Peninsula.
It is learnt that six Russian individuals and eight companies, which coordinated and provided material support for Russia’s actions, have been blocked by the United States and its “transatlantic partners”.
He further said that the “joint initiative” with Canada and the EU “reinforces our shared commitment to impose targeted and meaningful sanctions in response to the Kremlin’s attempts to disregard international norms and undermine Ukraine’s sovereignty and territorial integrity.”
The sanctioned entities are now banned from the US financial system as well as from accessing US-based assets.
Germany has previously supported economic sanctions against Russia.
There is an embargo on exports to Russia of designated military and dual-use goods.