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Asean & Global Updates
POSTED | 10:08 AM | 29-04-2014

New US-EU sanctions target Putin cronies

The US and EU have levied new sanctions on new members of Russian President Vladimir Putin’s inner circle and 17 companies over the Ukraine crisis.

The new penalties were in response to what the West has said was Russia’s failure to live up to commitments it agreed to under an international agreement aimed at ending the dispute.

The White House, which was first to announce its sanctions on Monday, said Russia’s involvement in the recent violence in eastern Ukraine is indisputable and warned that the US and its partners were prepared to impose deeper penalties if Russia’s provocations continue.

Among those targeted by the US sanctions was Igor Sechin, the president of state oil company Rosneft, who has worked for President Putin since the early 1990s. Sechin was seen as the mastermind behind the 2003 legal assault on private oil company Yukos and its founder Mikhail Khodorkovsky, who at the time was Russia’s richest man.

The most lucrative parts of Yukos were taken over by Rosneft, making it Russia’s largest company. Rosneft has a major partnership deal with ExxonMobil.

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