Ukraine crisis: Obama blocks exports

Measures follow similar moves by the European Union this week

WASHINGTON: President Barack Obama said he would ban exports of goods, technology or services to Ukraine’s Crimea region, and called on Russia to end its annexation of the region. He said his order was intended to provide clarity to US corporations doing business in the region and reaffirm that US will not accept Russia’s occupation and attempted annexation of Crimea. The measures followed similar moves by the European Union this week. Canada also announced such measures on Friday. Obama authorised the Treasury Department to impose sanctions on individuals and companies operating in the region. The department slapped sanctions on 24 Ukrainians and Russians and several companies it determined were contributing to destabilizing Ukraine. Among those sanctioned was Marshall Capital Partners, a Russian equity investment group. The Treasury Department also slapped sanctions on the Night Wolves, a biker group whose members served in Crimean forces after Russia’s annexation of the region.

Published in The Express Tribune, December 21^st, 2014.

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