US imposes further sanctions on Putin allies

The United States froze assets and imposed visa bans on seven Russians close to President Vladimir Putin yesterday and also sanctioned 17 Russian companies in reprisal for Moscow’s actions in Ukraine.

President Barack Obama said the moves, which add to measures taken when Russia annexed Crimea last month, were to stop Putin fomenting rebellion in eastern Ukraine, an allegation Moscow denies. A Russian diplomat voiced “disgust” at the White House.

Among those sanctioned was Igor Sechin, head of state energy giant Rosneft. Its shares dropped nearly 2%, while the broader Moscow stock market rose almost 1% as investors decided the sanctions were softer than expected.