--- title: Obama Announces Further Sanctions Against Russia | TIME description: Barack Obama outlines broader sanctions that include entire sectors of the Russian economy. canonical: https://time.com/video/OXwNIPEz/ og:title: Obama Announces Further Sanctions Against Russia og:description: Barack Obama outlines broader sanctions that include entire sectors of the Russian economy. og:url: https://time.com/video/OXwNIPEz/ og:image: https://cdn.jwplayer.com/v2/media/OXwNIPEz/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Obama Announces Further Sanctions Against Russia twitter:description: Barack Obama outlines broader sanctions that include entire sectors of the Russian economy. twitter:image: https://cdn.jwplayer.com/v2/media/OXwNIPEz/poster.jpg?width=720 --- # Obama Announces Further Sanctions Against Russia > Sponsored content. Supplied in partnership with TIME. 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They are at time.com/newsletters and are separate from a paid subscription. ## 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._ --- Jul 27, 2023 4:19 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Sarah Sanders Is Asked If Democrats Are Anti-Jewish](/video/ut8joL7g/) ### Sarah Sanders Is Asked If Democrats Are Anti-Jewish [Senate Approves Russia Sanctions Bill](/video/7dar89Yw/) ### Senate Approves Russia Sanctions Bill [Homeland Security Chief: Border Wall Won't Be From 'Sea to Shining Sea'](/video/hgvLOE6U/) ### Homeland Security Chief: Border Wall Won't Be From 'Sea to Shining Sea' --- ## 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. Rights that people and nations around the world understand and support. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Obama Announces Further Sanctions Against Russia","description":"Barack Obama outlines broader sanctions that include entire sectors of the Russian economy.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/OXwNIPEz/poster.jpg?width=720","uploadDate":"2014-03-20T16:05:35.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/OXwNIPEz.m3u8","embedUrl":"https://time.com/video/OXwNIPEz/","duration":"PT2M26S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/OXwNIPEz/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```