President Barack Obama says the United States is levying a new round of economic sanctions on individuals in Russia, both inside and outside the government, in retaliation for the Kremlin's actions in Ukraine.
Obama says he has also signed a new executive order that would allow the U.S. to sanction key sectors of the Russian economy.
The new penalties mark the second round of economic sanctions the U.S. has levied on Russia this week. The first round of penalties had little impact in stopping Moscow from annexing the strategically important Crimean Peninsula from Ukraine.
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