US official heads to Europe for Russia sanctions talks

The United States is sending a top Treasury official to Germany, France and Britain this week to discuss sanctions against Russia over the Ukraine crisis.
David Cohen, the Treasury Department's under secretary for terrorism and financial intelligence, will discuss issues related to illicit finance and sanctions that have been imposed "in response to Russia's illegal action in Ukraine," the department today said in a statement.
On his trip, Cohen will work with the three European partners on the implementation of sanctions.
"He will also engage in stepped-up planning on the range of tools at our disposal, including expanded sanctions against entities in various sectors of the Russian economy, should Russia continue its illegal and destabilising behaviour."

Cohen will also travel to Israel during the week for "regular consultations on issues of shared interest," the department said.
The US announcement comes as Ukraine's crisis escalated through the weekend. Today, Ukraine's military suffered heavy casualties in a stepped-up offensive on pro-Russian rebels as the country veered toward civil war.

Russia denies any hand in the violence. United Nations chief Ban Ki-moon, in an exclusive interview with AFP today in Abu Dhabi, offered to mediate personally in the conflict.
Ban's offer came as European leaders, fearing all-out civil war on their eastern flank, launched a desperate new peace bid, urging Ukraine and Russia to forge a negotiated solution.

The Treasury's Cohen yesterday said that the US economic sanctions to date against Russia -- targeting 45 individuals and 19 entities, including four banks -- were having a negative impact on the Russian economy and stock market, among other areas.
The US sanctions are particularly effective because the dollar is the dominant currency in which all international trade occurs, he said.
"We're trying to create an incentive for the Russian government to recognise that what they need to do is to de-escalate the situation in Ukraine, to take a different path," Cohen said in an interview with CNN television.
"And we're going to continue to work on creating those conditions in the Russian economy and in the people close to President (Vladimir) Putin to try and encourage them to make the right choice there."

Cohen's itinerary will include one-day visits, beginning tomorrow, to Berlin, Paris, Tel Aviv and London, according to the Treasury.