Gregory Korte

USA TODAY

WASHINGTON -- The United States will impose a new round of sanctions on Russia on Friday, joining the European Union in ramping up pressure on Russian President Vladimir Putin over the Russian presence in Ukraine.

President Obama said the broadened sanctions will target Russia's financial, energy, and defense sectors.

"These measures will increase Russia's political isolation as well as the economic costs to Russia, especially in areas of importance to President Putin and those close to him," Obama said in a statement released by the White House Press Office. "As I said last week, if Russia fully implements its commitments, these sanctions can be rolled back. If, instead, Russia continues its aggressive actions and violations of international law, the costs will continue to rise."

Details will be announced Friday. White House Press Secretary said giving specific targets before the sanctions are implemented would only serve to allow those targets to "escape this dragnet."

The timing of the announcement seems to be coordinated with sanctions to be imposed by the Europeans Friday, when the specific targets will be published in an official journal by the European Union in Brussels.

It's the fourth round of escalating sanctions imposed by the United States this year. The new round of sanctions was expected since last week, when Obama met with European allies last week at the NATO Summit in Wales.

The European Union's new sanctions prohibit European companies or nationals from providing loans to five Russian banks, or for supplying equipment for Russian oil and logging industries. The union will also freeze the assets and ban travel from 24 people connected to the Putin regime, bringing the total number of targeted Russians to 119.

At the same time, the Europeans are reviewing their existing sanctions, and could even loosen some sanctions by the end of the month. "We have always stressed the reversibility and scalability of our restrictive measures," European Council President Herman Van Rompuy said in a statement.

Moscow said the new sanctions come even as the Ukraine situation takes a "serious turn towards settlement," according to the Russian ITAR-TASS News agency.

"This is an absolutely unfriendly line, which also contradicts interests of the European Union," said Russia Foreign Ministry spokesman Alexander Lukashevich.

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