US President Barack Obama announced on Thursday additional “costs” or sanctions against Russia over the Ukraine crisis. The new sanctions targeted wealthy individuals in Vladimir Putin’s inner circle and a bank with ties to them.

Obama said: “We have seen an illegal referendum in Crimea, an illegitimate move by the Russians to annex Crimea and dangerous risks of escalation.”

“These are all choices that the Russian government has made, choices that have been rejected by the international community, as well as government of Ukraine,” he added.

“Ukraine’s sovereignty and territorial integrity must be respected, and international law must be upheld.”

Mr. Obama ends the speech by reminding Russia that Ukrainians “should not have to choose between the West and Russia” but determine their own destiny and to have good relations with United States, Russia, Europe, and anyone they would choose.

This latest announcement is part of a series of sanctions the Obama administration has taken against Russia over the Ukraine crisis. On Monday, the sanctions targeted seven Russian officials, including close advisers to President Vladimir V. Putin, as well as separatists in Crimea.



