The sanctions will have little practical effect on Putin’s ability to sustain his country’s economy with oil and gas revenue. Read more at straitstimes.com.
MOSCOW - The US sanctioned hundreds of Russian officials, lawmakers, family members and businesses on Friday in what Treasury Secretary Janet Yellen called a"sweeping action", but in reality the measures will have little practical effect on President Vladimir Putin's ability to sustain his country's economy with oil and gas revenue.
"I want to issue a clear warning to those who would think about providing political and economic support to these annexed territories or to Russia's efforts to justify and defend the annexation: You can be subject to US sanctions as a result of those activities," said US National Security Adviser Jake Sullivan.
"There's been a paradox in these sanctions," Senator Bill Cassidy, a Louisiana Republican said in an interview on Bloomberg Television's"Balance of Power With David Westin.""As the international price of oil has gone up, Russia has had increased revenue from selling oil and natural gas."
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