President Obama announced a new round of U.S. sanctions against Russian banks and a shipbuilding company Tuesday, saying Russia must pay an increasingly high price for its military aggression in Ukraine and the downing of a passenger jet.
The penalties follow tougher sanctions agreed to by European Union leaders earlier in the day.
“Today is a reminder that the United States means what it says,” Mr. Obama said in a statement on the South Lawn of the White House. “It didn’t have to come to this. There continues to be a better choice.”