Russia Weighs Response as U.S. and EU Add More Sanctions

Russia threatened retaliation against a U.S. and European Union decision to stiffen sanctions, saying the move to expand penalties undermines the peace process in Ukraine.

Russia will react “calmly, appropriately” to the EU sanctions, Foreign Minister Sergei Lavrov told state TV in an interview. The EU added 15 companies, including OAO Gazprom Neft, OAO Rosneft and OAO Transneft, and 24 people to the list of those affected by its sanctions against Russia. The U.S. will also “deepen and broaden” its measures against Russia’s financial, energy and defense industries, President Barack Obama said yesterday.