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He added that the conflict in Ukraine might be solved through diplomatic means.
“I believe there's still a path to resolve this situation diplomatically,” Obama said.
The USA has published the list of people subject to sanctions, which includes several Russian and Ukrainian officials.
Their assets in the US will be frozen, and Americans will be banned from getting into business contacts with the officials on the list.
Apart from that, a new executive order of the US president has been adopted. This order forms the basis of sanctions against the aforementioned persons. In addition, the document allows introducing punitive measures against persons and organizations serving the interests of Russia’s military industry, as well as providing material support to people included in the black list.
Earlier on Monday, the EU announced the introduction of sanctions against 21 officials from Russia and Ukraine. The case in hand is visa restrictions and assets freezing.
Lithuanian Foreign Minister Linas Linkevicius also said additional measures of pressure against Russia could be considered at the EU summit on March 20-21, adding they could involve an expansion of the “black list” and a possible embargo on supplies of weapons to Russia.