On March 6, 2014 President Obama signed Executive Order 13660 that authorizes sanctions on individuals and entities responsible for violating the sovereignty and territorial integrity of Ukraine, or for stealing the assets of the Ukrainian people. These sanctions put in place restrictions on the travel of certain individuals and officials and showed our continued efforts to impose a cost on Russia and those responsible for the situation in Crimea.
On March 17, 2014, President Obama issued Executive Order 13661 under the national emergency with respect to Ukraine that find that the actions and policies of the Russian government with respect to Ukraine -– including through the deployment of Russian military forces in the Crimea region of Ukraine –- undermine democratic processes and institutions in Ukraine; threaten its peace, security, stability, sovereignty, and territorial integrity; and contribute to the misappropriation of its assets.
On March 20, 2014, the President issued a new Executive Order, "Blocking Property of Additional Persons Contributing to the Situation in Ukraine" expanding the scope of the national emergency declared in Executive Order 13660 of March 6, 2014, and expanded by Executive Order 13661 of March 16, 2014, finding that the actions and policies of the Government of the Russian Federation, including its purported annexation of Crimea and its use of force in Ukraine, continue to undermine democratic processes and institutions in Ukraine; threaten its peace, security, stability, sovereignty, and territorial integrity; and contribute to the misappropriation of its assets, and thereby constitute an unusual and extraordinary threat to the national security and foreign policy of the United States.
Utilizing these Executive Orders, the United States has steadily increased the diplomatic and financial costs of Russia’s aggressive actions towards Ukraine. We have designated a number of Russian and Ukrainian entities, including nine defense companies and individuals in Putin’s inner circle, as well as imposed targeted sanctions limiting certain financing to five of Russia’s largest banks and two energy companies. We have also suspended credit finance that encourages exports to Russia and financing for economic development projects in Russia, and are now denying the export, reexport or foreign transfer of certain items for use in Russia's energy sector that may be used for deepwater, Arctic offshore, or shale projects that have the potential to produce oil exploration or production of oil.
These actions, in close coordination with our EU and international partners, send a strong message to the Russian government that there are consequences for their actions that violate the sovereignty and territorial integrity of Ukraine. The United States, together with international partners, will continue to stand by the Ukrainian government until Russia abides by its international obligations. The United States is prepared to take additional steps to impose further political and economic costs. A secure Ukraine, integrated with Europe and enjoying good relations with all its neighbors, is in the interests of the United States, Europe, and Russia.
Remarks and Releases