President Obama on Monday confirmed that the United States and the European Union were planning new economic sanctions against Russia for Moscow's alleged involvement in the eastern Ukraine.
Speaking in Philippines, where Obama is visiting as part of an Asia-Pacific tour, he said the sanctions are not aimed directly at Russian President Vladimir Putin, but was intended to "change the calculus" on the affects any new moves by the Kremlin might have on the Russian economy. The full list of new sanctions was expected to be announced later Monday.
According to The Associated Press:
"Obama said the targets of the sanctions would include high-technology exports to Russia's defense industry. The full list of targets will be announced by officials in Washington later Monday and are also expected to include wealthy individuals close to Putin."
"The European Union is also planning more sanctions, with ambassadors from the bloc's 28 members to meet Monday in Brussels to add to the list of Russian officials who have been hit by asset freezes and travel bans."