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Russia counts cost of new economic sanctions

By The Associated Press

This article was published July 30, 2014 at 11:08 a.m.

MOSCOW — Russia blasted the West's new economic sanctions Wednesday, accusing the U.S. of being "prosecutorial" in its drive to impose penalties on the country's key energy and finance sectors.

The U.S. and European Union on Tuesday announced a raft of new sanctions that would limit the trade of arms and technology that can be used in the oil industry and for military purposes. The EU also put its capital markets off limits for Russian state-owned banks.

The U.S. and EU say Russia is helping the separatist rebels in eastern Ukraine who are accused of downing the Malaysian Airlines jet this month.

Russia's foreign ministry said Washington was "advancing baseless claims." In a statement, it accused the U.S. of conducting itself in a "pretentious, prosecutorial manner."

Experts say the penalties, which had until recently mainly targeted individuals, will have more bite to them this time, rippling through the economy and causing deeper damage.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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