Russia President Vladimir Putin, in Brazil for the World Cup final and BRICS summit

The White House imposed new economic sanctions on Russia Wednesday, targeting the country’s top oil producer Rosneft and other energy, financial and defense firms.

European leaders haven’t yet followed the Obama administration’s lead.

The sanctions also targeted Russia’s second-biggest gas producer, Novatek.

In the finance sector, the U.S. sanctions also named Gazprombank and Vnesheconombank, and eight arms firms.

The new U.S. action is a response to Russia President Vladimir Putin’s failure to end the rebellion in eastern Ukraine.

The sanctions administered by the U.S. Treasury Department closed most dollar funding to the energy companies and banks.

The White House move didn’t freeze the four companies’ assets or prohibit U.S. firms or companies from doing business with them, Reuters said.

President Putin said the sanctions would damage U.S. energy companies.

Rosneft’s chief executive, Igor Sechin, who was personally targeted by an earlier round of U.S. sanctions, said the new sanctions wouldn’t affect Rosneft’s current project with ExxonMobil but would damage the shareholders of U.S. companies cooperating with Rosneft, Reuters reported.

Rosneft had sales of $40 billion in the first quarter of 2014.

It accounts for about 8.6 percent of Russia’s gross domestic product, Reuters said.


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