New EU and US sanctions target the powerful elite surrounding Putin

By Jenny Park

In their latest response to Russia’s military intervention in Ukraine, the EU and US adopted new sanctions against Russia. The new sanctions punish senior Russian officials through Western asset freezes and travel bans. Additionally, the sanctions target major Russian banks, defense and energy corporations through restrictions of loan-terms, exports, and arms deals. Observers note that the sanctions will potentially exacerbate Russia’s already slumped economy. 
BBC details the potential effects of these new sanctions.