United States President Barack Obama has declared new sanctions against Russia, saying that the U.S. would make Russia's economy weaker.
Obama said that new sanctions by U.S. and European Union would have a greater impact on Russia's economy, reports the BBC.
The new permits include banning people in the U.S. from making any transactions with three Russian banks while E.U. would target oil sector, defence equipment and sensitive technologies.
The U.S. Treasury said that the three Russian banks were the Bank of Moscow, VTB bank and the Russian Agriculture Bank.
Russia had denied accusations by the western countries that it had supported rebel groups in Ukraine.
Obama said that the U.S would target Russia's key economic sectors that include energy, finance and arms.
