Russia retaliates against Obama sanctions: pulls billions from banks & U.S. treasury

Consortium of Defense Analysts

Obama vs. PutinBarack Obama and Vladimir Putin at the Group of 8 conference in northern Ireland, June 2013

On March 6, 2014, Barack Obama signed an executive order, and made good on his threat to impose sanctions on Russia over the latter’s “invasion” of Ukraine’s Crimean peninsula.

In addition to declaring a U.S. “national emergency” due to the Ukraine crisis being an “extraordinary threat to the national security and foreign policy of the United States,” Obama’s executive order, “Blocking Property of Certain Persons Contributing to the Situation in Ukraine,” also “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.” (The term “entity” means a “partnership, association, trust, joint venture, corporation, group, subgroup, or other organization.”)

Actions have consequences. It now appears Russia has retaliated by dumping U.S. treasury bonds and withdrawing…

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