US Officials Impose Long-Threatened Sectoral Sanctions on Russia

By Kira Zalan and Colby Adams

The U.S. Treasury Department Wednesday imposed its strongest sanctions to date in response to Russia's role in Ukrainian violence, blacklisting 12 companies in the federation's financial, energy and defense sectors. Roughly timed with European Council assurances of separate restrictions, the designations target Gazprombank OAO, a financial institution specializing in private banking and financing for the energy sector, and VEB, a state-owned development bank currently chaired by Russian Prime Minister Dmitry Medvedev. The measures prohibit U.S. entities from financing or dealing in other debt for the banks and two Russian energy firms-Novotek and Rosneft-when the maturity is longer than 90 days....