Reports: Obama prepares energy sanctions against Russia

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last updated 8 January 2015

In a new round of sanctions, the White House is targeting Russia's energy and technology industries, Bloomberg reports. The Obama administration hopes the sanctions will pressure Moscow over Ukraine's crisis. The sanctions would effect companies that produce and deliver natural gas and crude oil, as well as their refined products.

However, two people briefed on the White House's plans told Bloomberg that the EU may not agree to the sanctions out of concern that penalties against Russia will harm the economy. One of the sources also told Bloomberg that the U.S. has discussed the proposed sanctions with Canada, the U.K., and Australia.

The sanctions come amid ongoing turmoil between Russia and Ukraine — Ukraine's government signed a "cease-fire" agreement with pro-Russia separatists earlier this week, but pro-Russia separatists shot down a Ukrainian helicopter yesterday. Minutes after the helicopter was hit, Putin asked Russia's upper house to rescind the authorization he was given in March to use force in Ukraine, in what American officials described as a positive but symbolic move.