US slaps full blocking sanctions against Russian defense complex

WASHINGTON/TOKYO, Mar 3 (PRIME) -- The U.S. and its allies are introducing fresh economic sanctions against Russia over the situation in Ukraine, including full blocking sanctions against Russia’s defense complex, the White House said in a statement late on Wednesday.

“Today, the United States, in coordination with allies and partners, is imposing additional economic costs on Russia and Belarus,” the statement read.

“The United States will take actions to... weaken the Russian defense sector and its military power for years to come, target Russia’s most important sources of wealth, and ban Russian airlines from U.S. airspace.”

The U.S. will also impose restrictions on exports of equipment for oil production.

Canada’s Foreign Ministry said in a statement that Canada will introduce a new package of economic sanctions against 10 key employees of Russian gas giant Gazprom and oil major Rosneft.

News agency Kyodo reported citing Japan’s Finance Minister Shunichi Suzuki that the state’s government will freeze assets of four Russian banks including VTB without sharing the details and that the government supports the decision to disconnect Russian from the international interbank settlement system SWIFT.

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