WASHINGTON – President Obama announced Thursday that he is ordering an expansion of U.S. sanctions against 20 more top Russian government figures and some powerful oligarchs as intensified punishment for the blatant land grab of Crimea.
Obama also said he was “deeply troubled” by Russian military positioning along southern and eastern Ukraine – a posture that could indicate plans for further military intervention.
Speaking on the White House South Lawn before flying to Florida, the president blasted the “illegitimate move by the Russians to annex Crimea,” and called out “dangerous risks of escalation.”
He threatened that “more severe actions that could be taken” if Russia continues on its path.
Mentioning Russian President Vladimir Putin by name, Obama said he “needs to understand that the Ukrainians shouldn’t have to choose between the West and Russia. We want the Ukrainian people to determine their own destiny.”
The Bank of Rossiya – with $10 billion in assets – is coming under sanction,the first such entity to get blacklisted. It caters to powerful figures in the Russian government, including Putin.
Russia immediately hit back and announced a travel ban on nine U.S. lawmakers.
The list includes House Speaker John Boehner, Sen. Robert Menendez (D-N.J.), chairman of the Foreign Relations Committee, and other senior officials.
Boehner spokesman Michael Steel issued a statement saying his boss was “proud to be included on a list of those willing to stand against Putin’s aggression.”
The newly-sanctioned Russians are part of Putin’s inner circle, including Andre Fursenko, an aide to Putin since 1994, and Vladimir Yakunin, chair of the state-owned Russian railways.
Among the big shots coming under sanction are brothers Arkady and Boris Rotenberg, who got billions in government contracts for the Sochi Olympics.
Also designated was Yuri Kovalchuk, described as a personal banker to many top Russian officials.
Any assets in the U.S. would be frozen and the Russians couldn’t do business with the U.S. But it’s not clear whether they have any such assets here.
Some Russian officials subject to the first round of sanctions mocked them as ineffectual, and there were calls in Congress for a tougher response.
Any of the individuals who try to do international business are “going to have great difficulty in doing so,” a senior administration official warned. “People may think that they are a mere wrist slap. I can assure them that they are not.”
A new executive order Obama signed also makes it possible to sanction sectors of the Russian economy, including energy, engineering, and military hardware, and the administration is signaling further action could be coming.
The developments came as crowds of Russian speakers seized two Ukrainian warships Thursday in Sevastopol. Shots were fired but there were no reported casualties.
Ukraine is developing a plan to get its troops out of Crimea, an acknowledgement of their defeat.