The President of United States of America Barrack Obama will sign legislation imposing new economic sanctions on Russia by the end of the week according to White House spokesman.

Josh Earnest, White House press secretary, said Tuesday“The president does intend to sign the piece of legislation that was passed by Congress, but we do have some concerns about that legislation because, while it preserves flexibility, it does send conflicting messages to our allies because it includes some sanctions language that does not reflect the consultations that are ongoing,”

The bill was passed by Congress last week and adds additional sanctions to Russian weapons companies and energy interests. This legislation would also allow $350 million in lethal and non-lethal military assistance to Ukraine from 2015 to 2017 and other aid for energy to the country, which has been threatened to be cutoffs in natural gas supplies from Russia.

At the White House’s request, the “Ukraine Freedom Support Act” does not make sanctions mandatory, giving Obama leeway over what would actually be in force.

Effects on The Russian Rouble

The ruble’s decline, driven by a combination of slumping oil prices and Western sanctions, is denting that pillar of his power.

Russia’s Finance Ministry said the currency was “undervalued” and that it was intervening in the market.

The Russian prime minister, Dmitry Medvedev, is holding a cabinet meeting later on Wednesday. Also attending will be the heads of the energy giants Rosneft and Gazprom as well as the central bank’s chairwoman, Elvira Nabiullina.

The drastic 6.5 percentage point rise in Russian interest rates to 17% early on Tuesday failed to freeze the slide in the currency.

In Wednesday, the benchmark price of Brent crude oil was drop to 50 cents at $59.51 a barrel. On Tuesday, the Brent price had decline below $59 before recovering.

The Russian central bank has spent a total of $6bn defending the rouble’s value just this month, with nearly daily action.

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