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U.S. widens sanctions, cites Russia's failings on Ukraine

Posted: July 17, 2014 at 4:23 a.m.

President Barack Obama discusses new sanctions being imposed against Russia for its intervention in Ukraine during a White House news conference Wednesday.

President Barack Obama escalated sanctions against Russia on Wednesday by targeting a series of large banks and energy and defense firms in what officials described as the most punishing measures to date for Moscow's intervention in Ukraine.

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