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Senate bill proposes tough sanctions on Russia

By The Associated Press

This article was published March 12, 2014 at 7:34 a.m.

WASHINGTON — Congress will weigh some of the most significant U.S. sanctions on Russia since the end of the Cold War in a bid to pressure President Vladimir Putin to pull Russian troops out of Crimea, according to a copy of a new Senate bill.

The legislation authorizes the Obama administration to impose economic penalties on Russian officials complicit in Ukrainian corruption or anyone responsible for Moscow's military takeover of Ukraine. It would also target Russians complicit in corruption.

The Senate Foreign Relations Committee plans a vote Wednesday afternoon.

Beyond sanctions, the bill enables the administration to make good on a pledge of $1 billion in loan guarantees to Ukraine's new, pro-Western government. And it would enhance the lending capacity of the International Monetary Fund, which some House Republicans oppose.

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