On Tuesday, President Obama announced additional, “major” sanctions against Russia due to the country’s continued involvement with Ukraine and their support of pro-Russian separatist groups. The sanctions target Russia’s energy, arms, and finance sectors. This is on top of existing sanctions against a series of large banks and energy firms including Rosneft, the world’s largest oil company, and Gazprombank, Russia’s largest private bank. Sanctions are intended to hurt the economy of the targeted country, with the hope that businesses and workers pressure policymakers to alter their behaviour in order to restore the economic status quo. However, sanctions often come …read more
Source: Business Insider