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US sanctions to target Russia key sectors

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The United States says it has closed ranks with European allies to impose further sanctions on Russia over the political crisis in eastern Ukraine.

US Assistant Secretary of State for European and Eurasian Affairs Victoria Nuland told the German Marshall Fund, a think tank in Washington, that the sanctions will target Russia’s energy, banking, and defense sectors.

“We are well aligned now on what a next round of economic sanctions would look like, in addition to continuing to look for individuals who one would sanction,” Nuland said.

She also accused Russia of undertaking further efforts to aid anti-Kiev protesters in eastern Ukraine by sending tanks and rocket launchers. Russia already denied such accusations.

The West and Russia have been on a collision course ever since the Ukraine crisis began. After Crimea broke away from Ukraine and rejoin Russia, the US and the European Union imposed sanctions on a range of high-ranking Russian officials and some business leaders connected with the Kremlin.

Russian ambassador in Washington Sergey Kislyak on Monday warned that the sanctions could hurt American efforts to cooperate with Moscow in the future,

“The credibility of the US as a partner on a number of long-term issues is going to be diminished,” Kislyak said at a Russia-related conference on Capitol Hill. “It’s difficult to be critical of the United States, but I simply will.”

Some US and European companies have also warned that further economic pressure on Russia could rebound, with an economic impact back home.

The US Treasury Department said it is examining ways to minimize extensive fallout of sanctions to businesses in the US or Europe.

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