stands is not illegal here unlike in china way it's officially bound as a vice president of the bank of russia said it's impossible to deny this instrument which might have although having said this that dulls still seem to be an air of caution involved to it regards to its use on the black markets for illegal drugs what happens so for more on the call and i'm now joined by car as the expert at the end didn't do. so do you think big coin has a future here in russia that. i actually think and read the cautious statements from the russian central bank more as an acknowledgement that monetary innovations are really a prerequisite for economic stability and resilience and then again corn is only one of the many that are on the menu to come and already had its positive experience with these occurrences particular in the transition after the fall of the soviet union so i guess this is really just a new phase of if you can all of this directly and of course but corners the big marriage that's asking the regulators to make a public statement of this and to flee in the spirit also this week we had a bi

stands is not illegal here like in china way it's officially bound also as a vice president of the bank of russiasaid it's impossible to deny this instrument which might have a future although having said this that dulls still seem to be an air of caution involved to it because for its use on the black market for illegal drugs what happens so from all the calling i'm now joined by car as the expert been able to say do you think bitcoin has a future here in russia that. i actually think and read the cautious statements from the rational central bank more as an acknowledgement that monetary innovations are really a prerequisite for economic stability and resilience and then again bitcoin is only one of the many that are on the mend to come and already had its positive experience with these occurrences particular in the transition after the fall of the soviet union so i guess this is really just a new phase of if you can all of this directly and of course but coyness the big marriage that's asking the regulators to make a public statement about this and paycheck to flee in this field but also this w

the central bank of russia is suggesting that growth will only be half a percent in 2014 because of the capital flight, because of this cloud hanging over investment going in to russia. conversely, the european union has a great deal of trade with russia. germany, for example, a million dollars of bilateral trade. we've seen exports from germany to russia down 17% in the last year. as you suggest, max, that's a very tep pick european union recovery. in the last 24 hours we've heard major companies, b.p., the ceo suggesting the latest results will harm relations with russia in particular because of its stake in rosneft. we've heard from renault suggesting because of the japanese sanctions and european sanctions, we don't know where we're going. let's not forget volkswagen, siemens and pepsi have major operations in russia. they hope they will see daylight before the demand really picks up late in the autumn and in early 2015 at the height of winter. that's the real delicate window when it comes to sanctions and why the european union says let's review these sanctions three months from to

we're freezing the assets of several russia defense companies and blocking new financing of some of russia's most important banks and energy companies. these sanctions are significant but also targeted designed to have the maximum impact on russia while limiting any spillover effects on american companies or those of our allies. now, we're taking these actions and close consultation with our european allies. we're meeting in brussels to agree on their next steps, and what we're expect something that the iran leadership will see once again that it's actions in ukraine have consequences, including a weakening russian economy and increasing diplomatic isolation. now meanwhile we're going to continue to stand with the ukrainian people as they seek to determine their own future, even in the midst of this crisis they have made remarkable progress these past few months. they held democratic elections. they elected a new president. they're pursuing important reforms and they signed a new association agreement with the european union. and the united states will continue to offer our strong support to ukraine to stabilize

russia plummet. now with these sanctions you're seeing western companies make changes. bank ofmerica for example saying its cut its exposure to russia by 40% since december in anticipation of further upset. and geopolitical upset between the two nations. in addition, financial assets. that's the assets of the banks of russia, they are going to be constrained. 40% of those assets constrained by these sanctions. and foreigners expected to pull $100 billion out of russia this year as a result of all of the upset there. so you're seeing it in his wallet. you're seeing it in the economy in russia, the stock market in russia and the currency. and yet i'm having a hard time finding anyone who thinks putin will do an about-face and actually not allow this to escalate. we'll see. time will tell. again, i think it's a slow burn. long term, this is going to hit him where it hurts, but near term, i don't see any impact. >> cuba? i mean, could we just begin and end there, sanctions against cuba? >> exactly. yeah. >> i don't know what you're supposed to do. >> well, i mean, clearly the world

the public and then put him away in prison the you has revealed the full details of it sanctions against russia's banks brought a bunch over the crisis in ukraine some of russia's largest financial institutions which bankroll energy and i guess culture sectors are on the list peter all over has the details. the full details have now come out about what the latest round of sanctions entailed what we're looking at is its targets three main sectors of the russian economy now in terms of the banking sector we've seen sanctions slapped on five of russia's biggest banks including the biggest spur bank which will stop them from being able to sell bonds to european investors with regards to the energy sector what we're going to see is anybody who wants to provide equipment technology towards russia they're going to have to get approval we're looking at things here like the continued exploration for oil in the arctic that could be affected by this and when it comes to defense well there is a ban on imports and exports all of this into russia however that isn't retroactive norms these are any deals that have gon

its targets three main sectors of the russian economy now in terms of the banking sector we've seen sanctions slapped on five of russia's biggest banks including the biggest spur bank which will stop them from being able to sell bonds to european investors with regards to the energy sector what we're going to see is anybody who wants to provide equipment technology towards russia they're going to have to get approval we're looking at things here like the continued exploration for oil in the arctic that could be affected by this and when it comes to defense well there is a ban on import and export of arms into russia however that isn't retroactive knowledge these are any deals that have gone on in the past any deals that have been agreed they'll all be fine and be allowed to progress but they that's basically the brass tacks of water of what these latest sanctions and tail for more on the issue let's bring in political analyst rodney shakespeare mr shakespeare thanks indeed for joining us the banks are seeing this sanctions won't affect the way they do business but there will be hurting from this one thing. know for a st

, one of russia's major energy producers. another bank called evb, and russia energy companies and novotel and rosneft. they are sanctions limited to access to u.s. capital markets for longer-term debt and equity for bank financing, for example of longer than 90 days but the administration sighs that these are going to be another tough round of sanctions, but it doesn't want to generate any spillover effects on global economy. so, for example the sanctions are not expected to affect property of these companies here or other types of transactions such as rosneft's partnership with exxon to do oil exploration in russia and also would not affect shorter-term financing which is critical to global oil financing, oil transactions, gerri. gerri: peter, i know we've been looking at this for a long type of the country already put in place some sanctions on russia, upping the ante tonight is expected in the press conference coming up. from what i understand, you tell me what your report something telling you, the idea is not to cut off entire secti

the scale of these companies bank is the country's third largest bank it finances some of russia's most prominent energy projects and is a vital contributor to the state budget generating over one hundred billion dollars in revenue annually these two along with several other firms are now forbidding from borrowing money on u.s. markets for periods longer than ninety days we earlier spoke to the editor of the business new europe magazine ben eris he explained to us how the new sanctions could affect russia's economy. very targeted at a few companies and specifically this is a significant scaling up because these are financial sanctions until now it's been aimed mainly at individuals and their personal assets there trying to find a tricky sort of path between on the one hand punishing russia and on the other hand maintaining the businesses that are here because you have a huge business lobby both in america and particularly in europe who are invested in making most of the profits here and the european partners are putting a lot of pressure on the states you know to to keep it contain

the scale of these companies gazprom bank is the country's third largest bank it finances some of russia's most prominent energy projects rosneft is a vital contributor to the state budget generating over one hundred billion dollars in revenue these two along with several other firms and are forbidden from borrowing money on u.s. markets for periods longer than ninety days and here is how the russian president reacted to the move. as far as sanctions are concerned they usually have a boomerang effect like i've said before and they will eventually lead russian u.s. relations to a dead end to damaging them severely i'm also positive that these measures harm america's long term strategic interests and the interests of its people. we earlier spoke to the editor of business new europe magazine benares he explained to us how the new sanctions could affect russia's economy they seem to be very targeted at a few companies and specifically this is a significant scaling up because these are financial sanctions until now it's been aimed mainly at individuals and there's trying to find a tricky sort o

banks and the access to the capital markets. that is where the lack of ambiguity exists and there are a and thes in russia biggest of them is directlyed by the central bank of russia. and the independent idea is that it is. we're waiting to hear clarification from the european union and they are going to come out with what that means. the companies and their access. there will come out with a black list that names companies. and thethe big issue other stuff is straightforward. the weapons embargo is not retroactive and the french can sell the warships to the russians. it will not allow sales of technology to the oil industry. we have seen the russian stocks do better than expected and the reason for that is because most was goingught that it to be worse than they are. addition, there is confusion as to what they mean for the individual companies. >> an interesting piece put out this morning and the talk about the inversion. how about that signaling problems that are coming for russia. it is problems for european companies. >> yes. it is interesting that this is an example of a company that has large exposure to russia and they have

russia was just becoming part of the international community, the international banking scene. sense was -- sense was this was turning russia into a pariah. in this game of brinksmanship, if anyone thinks that is going to compel lieutenant come to the table, they are probably mistaken. he might actually going the opposite direction. pointing out, what is it exactly that the eu and the west want? what would it take? has been lost, and those lives can't be brought back. >> he could make it safe. >> could contribute to de-escalating in the eastern portion. me was whener for he said, president putin is somebody who is prepared to go off a cliff in this showdown. is the west prepared to go off a cliff with? there are links to russia. oil technology to russian upgrade to companies like roz left. that could complicate the push. how does this affect the likes of total? a 17% stake in a company called nova tech, russia's largest independent gas producer. is part ofreholders putin's learned -- inner circle. he has been sanctioned by the united states. blacklistng to get a from the europea

its subsidiary the bank of moscow was also included in washington's penalties another target is russia's agricultural bank which is completely government owned all these financial institutions will be cut off from seeking medium and long term loans from u.s. capital markets also affected is the united shipbuilding corporation that manufactures both military and civilian vessels exporting to twenty different countries but economist max fraud wall says the u.s. and firms may have trouble obeying the new penalties. it's a little bit hard to nail down exactly but there will be serious potential public relations as well as regulatory fallout so i do think you're going to see folks make a good faith effort to first understand what exactly this means and then to very quickly especially given again the really short timeframe here quickly be compliant with what they think exactly this means as it becomes hopefully more clear in the days ahead. of this time the e.u. bank terp u.s. sanctions european leaders agreed to target several sectors of russia's economy including finance and energy artie's p

and defense firms and the attempt to punish russia. >> where blocking new financing of some of russia's most important banksnergy companies. these are significant but they're also targeted, designed to have the maximum impact on russia while limiting spillover effects on american companies or those of our allies. >> israel has agreed a five-hour truce at the rate quest of the u.n.. the temporary cease-fire would allow civilians time to supply. as the israeli army prepares its troops were possible ground invasion. janet yellen finished her second day of her biannual testimony to congress. they have hurdles to overcome but told legislators she is optimistic about the state of recovery. >> growth is picking up and we have sufficient gross to support continued improvement in the labor market. >> that is janet yellen. let's get you some of the breaking news. -- e have >> i had a tough moment there. e's biggest retailer, second quarter numbers coming up. they seem to have done pretty well in terms of sales. 20.5 billion euros. organic sales up 5%. france. 2.1% and excluding fuel. merging -- emerging markets down

assets of several russian defense companies, and we are blocking new financing of some of russia's most important banksy companies. these sanctions are significant, but they are also targeted, designed to have the maximum impact on russia while limiting any spillover effects on american companies or those of our allies. taking these actions in close consultation with our european allies who are meeting in brussels to agree on their next steps. what we are expecting is that the russian leadership will see once again that its actions in ukraine have consequences, including a weakening russian economy and increasing diplomatic isolation. meanwhile, we are going to continue to stand with the ukrainian people as they seek to determine their own future. this futuremidst of -- this crisis, they have made remarkable progress. they held democratic elections. they elected a new president. associationa new agreement with the european union. the united states will continue to offer our strong support ukraine to help stabilize its economy and defend its territorial integrity. like any people, ukrainians deserve the

before russia was removed or kicked out of the g8, the issue that russia wanted to discuss was the problem of offshore bankingnd the ability of so much money to leave countries and escape into the shadow banking system. offshore money is a big issue in russia. it is essentially russia has huge capital outflows every year of the resources that they need and required to rebuild the nation. so, the power of banking is an important issue for russia. in light of all the capital flights that occur from the russian federation. us fromed joins virginia. good morning. -- caller: i am concerned that we are spending a lot of effort, money, everything else we don't have to secure borders and we can even approach our own border situation. that's all i have to say. time: yes, but at the same , at least in terms of ukraine, the borders were agreed upon after the collapse of the soviet union. russia signed onto recognizing crimea.rders, including this is an international security issues -- issue in terms of the recognition of borders. i appreciate the comment that >> on the next "washington journal," associated press state d

then the second washington is once again picked up some of russia's biggest financial pellets take for example as the country's second largest bank the group also operates in europe asia and africa one of its subsidiaries the bank of moscow is also on the list another major institution russia's agricultural bank which funds the farming sector has been hit as well all are barred from u.s. capital markets should they apply for medium or long term loans also on the list the united shipbuilding corp russia's largest holding in that field will be prevented from importing certain equipment and gun education reports now on what's behind the new measures. the previous round of sanctions targeted certain russian banks more were added to that list their punishment is that they will not be able to borrow from the u.s. longer than ninety days president obama was asked if this tension could effectively mean the beginning of a new cold war he disagreed he said he does not see another cold war coming but that's not the way many people see it there was a hearing in the u.s. congress several hours before the president's announcement or you could

africa also asia its subsidiary the bank of moscow here also included of washington's penalties another target russia's agricultural bank which is completely government funded these financial institutions won't be able to bank with americans at all also affected the united building corporation which manufactures both military and civilian vessels but up to the end of the day though we spoke to the economist max fraud wolf you said u.s. may have a tough time actually a brain the new penalties it's a little bit hard to nail down exactly but there will be serious potential public relations as well as regulatory fallout so i do think you're going to see folks make a good faith effort to first understand what exactly this means and then very quickly especially given again the really short timeframe here quickly be compliant with what they think exactly this means as it becomes hopefully more clear in the days ahead. this time the e.u. backed up u.s. sanctions european leaders agreed to talk at several sectors of russia's economy including finance and energy explanation here without he's pretty rough. the e.

those targeted just to give you an idea of the scale all of these companies will face the country's third largest bank its finances some of russia's most prominent energy projects well rosneft is a vital contributor to the state budget generating over one hundred billion dollars in revenue and nearly these two along with several other firms are not forbidden from borrowing money on u.s. markets for periods longer the ninety days the russian president vladimir putin just made some official comments on the malaysia air waves plane crash in eastern ukraine calling for the tragedy not to be politicized he also said that international experts on the scene should be able to carry out their work in complete safety. so you still trust me to get him so which isn't because it is actually a tragic event and that to place in the airspace over the net i would like to see what it is once again we can go to how we in russia what's our position on the swing of that situation when you crane what we have called more than once all the parties involved involved to the conflict to cease fire. and. the war in saying that from twenty eight through june

none of those countries voted to punish russia for annexing crimea. it is not just the imf and the world bankbut the ebrd were russia has a vote, but not much of one. a possible new round of sanctions in russia is halting ebrd financing. the russians will tell you that is because of the u.s. and its allies. the russians would argue the only reason ukraine is getting imf funding is because ukraine .s allied with the west they will never have the money to return to the imf. this is about geopolitics. trying to balance and level the playing field. >> what are the leaders going to do? does it matter? >> they have $100 billion currency reserve fund. the second thing, $50 billion development bank. two percent of the collective reserves of the five countries. says they should be able to lend about $3.5 billion per year every year in a decade's time. the world bank is set to lend $60 billion. the reality is, these countries are much less powerful and less dynamic than they were seven or eight years ago. the average growth right now amongst the countries is about 5.25%. half of where it was when jim o

the scale of those companies gasp from bank is the country's third largest bank it finances some of russia's most prominent and projects and the us yet is a vital contributor to the state budget generating more than one hundred billion dollars in revenue each year and these two along with several other firms are now for britain from borrowing money on u.s. markets for periods longer than ninety days and here is how the russian president reacted to the move. as far as saying sions are concerned they usually have a boomerang effect like i've said it was really want it will eventually lead russian u.s. relations to a dead end and damaging them severely i'm also positive that these measures harm america's long term strategic interests in the interests of this before. a humanitarian truce between guards and militants and israel will be expiring in just a matter of minutes at the sides earlier agreed to allow the red cross to get the dead and injured out of the worst hit area in eastern guards a hospital wards that already severely overloaded and doctors. fear that the worst is yet to come. up wit

and to king of global banking well the powers the five nations brazil russia india china and south africa aidid in brazil for the eve of the summit a message to finalize the details of the development bank that we've got are very i missed calls start he's in the country just now for a stop or tell me what do i expect asians and what is on the agenda this week for the first is the development bank or the brics bank as it's going to be basically this is going to be a war chest for times of crisis is going to protect the five countries and their economies can act as a buffer if there is a future financial global crisis and the second part is the stabilization fund which is going to help support the emerging economies it's going to be seen as an alternative a rival if you like to the i.m.f. and the world bank let's talk about facts and figures because this new. this new bridge bank is going to have one hundred billion u.s. dollars in reserve and forty one billion of those are going to be provided by china eighteen billion will be provided by russia india and brazil each well south africa will

of the latest sanctions from the eu and the u.s. on russia right now. we're seeing a boundback in the russian market. but as i mentioned, the vtb banksia coming under a bit of pressure in the session today, too. i'm showing you the european markets 2456 bounced back in the lows of the session. right now, across the board for the core market. >>> the european union has announced new saengsz. russian-backed banks won't be able to access the markets and export and equipment needed by its energy sector. the united states announced similar measures with new sanctions in financial services, including vtb and the bank of moscow. as i just mentioned, their shares in vtb have been trading lower, the stock down just shy of 20% so far this year. >>> speaking after the announcement, barack obama called on vladimir putin to comply with demands of the international community. >> it's not a new cold war. what it is, a very specific issue related to russia's unwillingness to recognize ukraine can chart its own path. and i think if you listen to president poroshenko, if you listen to the ukrainian people, they've consistently said they seek good rel

banks are sniffs which is russia's state owned oil company and largest oil producer a gas from bank the financial arm of gas problem the state controlled natural gas producer beric another russian natural gas producer and of near chicago owned bank which is russia's economic development bank president obama just said the u.s. is tailored to sanctions in a way so as not to hurt u.s. companies washington want it tougher sanctions they wanted to target entire sectors of the washing a commie but europe did not go along with the plan unilateral sectoral sanctions would put u.s. businesses at a disadvantage because many of the services and technologists that u.s. companies sell european companies haven't sell and this way the u.s. would isolate itself from a lot of business that could be done there. now as our t. correspondent for the n.h. . u.s. military drones may soon be expanding their reach across the world u.s. export control officials say they may be willing to ease some restrictions that have limited the sale of american made military drones overseas are to make a lopez has more. america might not man

is the country's third largest bank its finances some of russia's most prominent energy projects well rosneft is a vital contributor to the state budget generating over one hundred billion dollars in revenue these two along with several other firms are not forbidden from borrowing money on u.s. markets for periods longer the ninety days. the russian president vladimir putin just made some official comments on the malaysia are always playing trash in eastern ukraine calling for the tragedy not to be politicized he also said that international experts on the scene should be able to carry out their work in complete safety. reasons wrestling with their huge game so we didn't even thought it was actually a threat to them and that to place in the airspace i would like to see what is once again we could.

raft of new sanctions against major russian companies accusing moscow failing to take action to deescalate the crisis in ukraine russia's biggest oil producer us and yes the along with gazprom bank are among those targeted also on the list are the arms manufacturer a kalashnikov and russia's second largest gas company nova tech just to give you an idea of the scale of some of these companies. it is a vital contributor to the state budget generating more than one hundred billion dollars in revenue each year and gazprom bank is the country's third largest bank it finances some of russia's most prominent energy projects and these two along with several other firms are now the bid in from borrowing money on u.s. markets for periods longer than ninety days the response russia's foreign ministry is accused the u.s. of damaging relations between the two countries moscow views the sanctions as blackmail and has warned of possible counter measures. as the story well these sanctions are illegal says the russian prime minister they are unacceptable blackmail and even a revenge for u.s. failings in ukraine says the russian foreign ministry the russian president now touring latin america say

its founding members and one of the facts well here they are the new development bank will be located in shanghai the first chair of the board of governors will be from russia the first chair of the board of directors will be from brazil and the banks.

producer gazprom bank the financial arm of gas prom the state controlled natural gas producer of arctic another russian natural gas producer and near shake on non-bank which is russia's economic development bank meanwhile russian president said he regretted the integrity of state paths that the u.s. had tros and in relations with russia. as far sanctions are concerned they usually have a boomerang effect like i've said before and they will eventually lead russian u.s. relations to a dead end damaging them severely i'm also positive that these measures harm america's long term strategic interests and the interests of its people. president obama said the u.s. has tailored the sanctions in a way so as not to hurt u.s. companies washington wanted tougher sanctions it wanted to target entire sections of the russian economy but without europe going along such sanctions would put u.s. companies that a disadvantage because many of the services and acknowledges that u.s. companies sell european companies haven't selve and europe shows that it's not prepared to cut its multibillion dollar partnership and trade with russia so in the last few weeks you had u.s. businesses callin

out already, the russian sanctions are demonstratively toothless. 11 of them are owned by one man in russia. i sns on the entire banking and energy sector in russia, they live off of oil and gas. hit that, hit that hard, shut that down. it will hurt our interest. and that's an issue. but you know what? if you do that, then russia will sit up and take notice. >> the fact is i know the europeans wouldn't like it if we did it but screw the europeans. >> you can't say that. >> i can say it. i just did. >> look, first of all, let's be careful about one thing. i think drawing some connection between the announcement of more sanctions on one day and the plane crashing the next day, you had better be careful about that. >> hold on a second. they say their sanctions are making the world a more tranquil place, verbatim. i say they're wronger i seem saying there does not necessarily have to be a connection. this happens right after they said that. this is where you can't be too simplistic. we do have important allies in europe. they do matter to us. we do matter to them and we don't live in a world where we can simply roll out. >

russia. they target the energy, banking, and defense sectors. russia ofrse have made a trading partner with the eu. david shater has this report. >> reporter: the export of cut flowers brings a multi-million dollars bloom to the dutch economy each year. russia was a growing part of it, but each round of sanctions has blighted the business. brokers in this high-tech auction room are finding the falling ruble and rising energy costs for producers are pricing them out of russia's market. but this jarred warehouse is just down the road from where the downed flight mh17 began its fateful journey. this businessman believes russia must be forced to pay the price. >> on one side you want to hurt russia, but on the other side you shoot yourself in the feet. >> reporter: what businessmen most fear is a retaller to strike by the kremlin. this is part owned by moscow's mega firm, gazprom. the european junior buys 60% of the export. >> here there is the classical clash between moral principles, between the humanitarian concerns, which are very obvious in the aftermath

of them, the world's largest publicly traded crude producer. russia's largest independent gas producer. gasprom bankrs, has been sanctioned. as has the state development bank. this is a bank that has got its tentacles, its fingers in almost every section, area of the russian economy. really big things. exactly what are they doing? you can still owns shares in these companies if you are a u.s. citizen and still get dividends. what you cannot do anymore is access the american capital markets. they have been shut out of the debt and equity markets in the united states. they do not always rely on u.s. equity markets for financing. however, you can imagine the secondary consequences of this kind of action. seeing all of those companies and their share prices very much in play this morning. >> ryan chilcote taking us through the latest on the geopolitical tensions. joining us is a global asset allocation director at ubs. it is interesting to see sanctions escalating. the u.s. and eu kept warning this would happen. were you expecting this? >> the sanctions really hurt. i'm half iranian. those sanctions were effective. perhaps more so than military action. they wi

obviously, in some of those cases, the companies of other sources of funding, like russia's state development bank gets a lot of money from the central bank. it does not need american capital markets to raise debt. having said that, when you take one source of funding away, that makes the other sources more expensive. just in general, case the picture. we are seeing that in the share prices of other banks. which said that this is bad for the financial system. there shares that are down 4%. the country's largest bank has bank innches than any the world. there sure is also down by 4%> >> thank you very much. the u.s. dimension to this. the eu is escalating sessions on russia. let's bring in caroline in brussels. what exactly did the eu agree on? eu decided in brussels does not match the u.s. sanctions but it does go beyond individual sanctions. the eu sanctions so far were mostly targeting individuals, 72 people, with asset freezes and travel bans. nighte first time last they mentioned entities, meaning they will target russian companies. we dor, unlike the u.s., not know exactly which companies are

of the u.s. sanctions for example love v t b is russia's financial behemoth it's the country's second largest bank and it operate is also in the e.u. asia and africa its subsidiary the bank of moscow right here well that was also included in washington's penalties and other target russia's agricultural bank completely government owned along with the united ship building corporation as well that manufacturers military and civilian vessels are exporting to twenty countries but economist wolf he says u.s. may have a tough time actually obeying the new penalties it's a little bit hard to nail down exactly but there will be serious potential public relations as well as regulatory fallout so i do think you're going to see folks make a good faith effort to first understand what exactly this means and then very quickly especially given again the really short timeframe here quickly be compliant with what they think exactly this means as it becomes hopefully more clear in the days ahead. and this time with the e.u. backed up the u.s. sanctions european leaders agreed to target several economies sectors of r