Washington: The US has slapped additional sanctions on companies and individuals assisting Russia in its alleged annexation of Crimea, and announced that it will provide a USD 1 billion loan guarantee to the Ukrainian government.
“The US will continue to impose costs on Russia for its illegal and illegitimate occupation of Crimea and, moreover, that we are fully prepared to impose additional significant sanctions on Russia if it continues to escalate the situation in Ukraine,” US Treasury Secretary, Jacob Lew, said.
Address the annual Spring meeting of the International Monetary Fund and the World bank, Lew said there was broad and strong unity within the G-7 on increasing the sanctions and costs in response to escalating action from Russia.
“As Ukraine takes steps to shore up its economy, the international community is providing financial and technical assistance,” he said.
“The IMF, which has assumed a leading role in the global response, has forged a preliminary agreement with Ukraine on a sizable loan program. And on Monday, I will sign a declaration moving forward a USD 1 billion loan guarantee agreement with Ukrainian Finance Minister Shlapak,” Lew said.
Earlier in the day, the Treasury’s Office of Foreign Assets Control (OFAC) slapped sanctions against Crimean separatist leaders and Crimea-based gas company Chernomorneftegaz for being responsible for or complicit in, or having engaged in, actions or policies that undermine democratic processes or institutions in Ukraine.
“Crimea is occupied territory. We will continue to impose costs on those involved in ongoing violations of Ukraine’s sovereignty and territorial integrity,” Under Secretary for Terrorism and Financial Intelligence David S Cohen, said.
New satellite images released by NATO showed Russian troops amassed on the Ukrainian border. “It is clear from the satellite images released by NATO yesterday that Russia has poised a menacing force near the Ukrainian border as part of its effort to destabilize Ukraine and destroy its chance for independence, self-determination, and democracy,” Senator John McCain said.
White House Press Secretary Jay Carney, told reporters, meanwhile, “We call on (the Russian) President (Vladimir) Putin and his government to cease all efforts to destabilizse Ukraine, and we caution against further military intervention. We remain prepared to impose further costs on Russia for its actions or further provocations”.
State Department Spokesperson Jen Psaki, said the Ukrainian Government has exercised remarkable restraint throughout the last several weeks.
“We have not seen evidence of what the foreign minister or others are referring to in terms of incursions or aggressive actions by the Ukrainian Government; quite the contrary,” she said.
Ukraine, Russia neighbours press NATO for backup
Ex-Soviet countries fearing spillover from the Ukraine crisis have asked NATO for land forces and other backup, potentially moving the region one step closer to a new Cold War. The nail-biting drama has already led the Western military alliance to step up defence measures in eastern and central Europe, but the region’s leaders are seeking more.
The calls from Baltic states Estonia, Latvia and Lithuania — which all border Russia and have sizeable ethnic Russian populations — and Ukraine’s neighbours Poland and Romania come as the United States accuses Russia of wanting to “create chaos” to have a pretext for more military intervention. (PTI)
