--- title: Barack Obama Ups Sanctions Against Russia and Vladimir Putin Allies description: The president imposed new sanctions on Russia and authorized the possibility of more to come canonical: https://time.com/31897/russia-ukraine-crimea-obama-sanctions/ author: Zeke Miller article:opinion: false article:content_tier: free article:published_time: 2014-03-20T15:38:37.000Z article:modified_time: 2026-08-04T08:01:33.128Z article:section: Politics og:title: Barack Obama Ups Sanctions Against Russia and Vladimir Putin Allies og:description: The president imposed new sanctions on Russia and authorized the possibility of more to come og:url: https://time.com/31897/russia-ukraine-crimea-obama-sanctions/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt32cf91ee33d249e3/698686631eebf7483936fef5/president-barack-obama2.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 4096 og:image:height: 2304 og:image:alt: U.S. President Barack Obama announces additional sanctions against Russia on the South Lawn of the White House in Washington, D.C., on March 20, 2014. og:type: article twitter:card: summary_large_image twitter:title: Barack Obama Ups Sanctions Against Russia and Vladimir Putin Allies twitter:description: The president imposed new sanctions on Russia and authorized the possibility of more to come twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt32cf91ee33d249e3/698686631eebf7483936fef5/president-barack-obama2.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # Obama Ups Sanctions on Russian Government and 'Cronies' > Sponsored content. 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It explains the politics, personalities and power dynamics behind the headlines, twice a week. #### Where can I get analysis of Washington politics by email? D.C. Brief is TIME's free Washington politics newsletter, available at time.com/newsletters. It is written by a TIME senior correspondent who covers the capital full time. #### Who writes TIME's D.C. Brief? Philip Elliott, a senior correspondent at TIME, writes D.C. Brief. #### Is D.C. Brief free? Yes. D.C. Brief is free at time.com/newsletters. ### Sources * TIME Newsletters: [time.com/newsletters](/c/time-nl-dcbrief-2026q3/newsletters?i=52bd7ab9-df74-4fc8-a3a8-9b0ae94e8cf8&cr=time-nl-dcbrief-2026q3-v1) ## Video: Obama Announces Further Sanctions Against Russia [Watch (HLS stream): Obama Announces Further Sanctions Against Russia](https://cdn.jwplayer.com/manifests/OXwNIPEz.m3u8) (2:26)  _Published 2014-03-20. Barack Obama outlines broader sanctions that include entire sectors of the Russian economy._ by [Zeke Miller](https://time.com/author/zeke-j-miller/) ## Zeke Miller Mar 20, 2014 3:38 PM UTC  U.S. President Barack Obama announces additional sanctions against Russia on the South Lawn of the White House in Washington, D.C., on March 20, 2014. U.S. President Barack Obama announces additional sanctions against Russia on the South Lawn of the White House in Washington, D.C., on March 20, 2014. Jim Lo Scalzo—EPA by [Zeke Miller](https://time.com/author/zeke-j-miller/) ## Zeke Miller Mar 20, 2014 3:38 PM UTC President Barack Obama announced Thursday that he has ordered increased sanctions on Russian officials and authorized sanctions on the country’s economy that could be implemented later, as Russia began steps to [formalize its annexation of the breakaway Crimea region](http://time.com/28443/putin-paves-way-for-crimea-annexation/) from Ukraine. Speaking to reporters before boarding Marine One for a trip to Florida, Obama said the United States government has added to a list of Russian senior officials subject to economic sanctions, and has also imposed new sanctions on a Russian bank and several Russian individuals close to the government of President Vladimir Putin. Obama also signed a new executive order authorizing new sanctions on “key sectors of the Russian economy,” though those sanctions have yet to be imposed. “Mr. Putin needs to understand that Ukrainians shouldn’t have to chose between the west and Russia,” Obama said, saying the U.S. remains “deeply concerned’ by Russian threats to Eastern and Southern Ukraine. Obama [ruled out](http://time.com/30989/obama-ukraine-no-military-option/) military intervention in the region on Wednesday. Obama reiterated Thursday that the U.S. rejects the results of Sunday’s “illegal” Crimean referendum to split from Ukraine, and Russia’s “illegitimate” steps to annex the peninsula weeks after Russian forces took control of the contested peninsula. Obama has pledged to impose additional “costs” on the Russian government as the crisis continues. On Monday, top aides to Putin were hit by U.S. economic sanctions, which were laughed off by those impacted. “Nobody should believe that this is the end of what we are prepared to do under the executive order,” a senior administration official said. “It’s only the beginning.” Among those sanctioned are Russian billionaires Arkady and Boris Rotenberg, Russian Railways president and Putin confidant Vladimir Yakunin, and Yuri Kovalchuk, the head of Bank Rossiya, described by senior administration officials as “Putin’s personal banker.” That bank is also subject to sanctions. In response to the fresh U.S. sanctions, Russia announced sanctions Thursday against several top American officials, including Senate Majority Leader Harry Reid, Speaker of the House John Boehner, Ariz. Sen. John McCain, N.J. Sen. Bob Menendez, La. Sen. Mary Landrieu, Ind. Sen. Dan Coats., White House Deputy National Security Advisor Ben Rhodes, White House Senior Advisor Dan Pfeiffer and White House Deputy National Security Advisor Caroline Atkinson. “The Speaker is proud to be included on a list of those willing to stand against Putin’s aggression,” said Boehner spokesman Michael Steel of the Russian sanctions against his boss. American officials said that while some of those sanctioned on Monday may have scoffed at the U.S. effort, those hit Thursday will feel the pain. American officials said they will pursue economic sanctions against Russia itself “with care” if they are needed, saying they are aware such moves could have a global economic impact. According to senior administration officials, the Russian economic sectors that could be hit by sanctions include financial services, energy, metals and mining, defense and related material, and engineering. ## Transcript Good morning everybody. I want to provide an update on the situation in Ukraine and the steps that the United States is taking in response. We're imposing some sanctions on more senior officials of the Russian government. In addition, we are today, sanctioning a number of other individuals with substantial resources and influence. Who provide material support to the Russian leadership. As well as, a bank that provides material support to these individuals. We've been working closely with our European partners to develop more severe actions. That could be taken, if Russia continues to escalate the situation. As part of that process, I signed a new Executive Order today. That gives us the authority to impose sanctions not just on individuals, but on key sectors of the Russian economy. This is not our preferred outcome. These sanctions would not only have a significant impact on the Russian economy, but could also be disruptive to the global economy. The basic principles that govern relations between nations in Europe and around the world must be upheld in the 21st century. That includes respect for sovereignty and territorial integrity. The notion that nations do not simply redraw borders or make decisions at the expense of their neighbors simply because they are larger or more powerful. Diplomacy between the United States and Russia continues. We've emphasized that Russia still has a different path available. One that de- escalates the situation and one that involves Russia pursuing a diplomatic solution. With the government in Kiev with the support of the international community. The Russian people need to know and Mr. Putin needs to understand that the Ukrainians shouldn't have to choose between the west and Russia. We want the Ukrainian people to determine their own destiny. And to have good relations with the United States, Russia, Europe, with anyone that they choose. That can only happen if Russia also recognize the rights of all the Ukrainian people to determine their future. As free individuals and as a sovereign nation. 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