Obama announces new sanctions on Russian banks, energy sector, defense industry

U.S. President Barack Obama has announced additional sanctions on the energy, defense and financial sectors of the Russian economy.

U.S. President Barack Obama has announced additional sanctions on the energy, defense and financial sectors of the Russian economy.

The sanctions, which are an addition to the sanctions declared two weeks ago, will affect some types of energy equipment and technologies, Obama said.

Obama also said the crediting of exports to Russia will be frozen and the financing of development projects in Russia will be suspended.

Obama did not give any specific names of the organizations to which the sanctions will apply.

The statement was made in a speech aired on U.S. television.

Earlier on Tuesday, the U.S. Department of Finance reported on restrictive measures on the Russian United Shipbuilding Corporation and the Russian banks VTB, Agricultural Bank, and the Bank of Moscow.

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