U.S. imposes new sanctions on Russia over Ukraine

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(CNN) — The Treasury Department on Wednesday announced new sanctions against Russian businesses and individuals relating to Russia’s “continued attempts to destabilize eastern Ukraine” and its “ongoing occupation of Crimea.”

The latest sanctions target some of Russia’s largest banks and energy companies, including Gazprom Bank, Novotek and Rosneft. They will not be able to raise debt or get new financing via the United States. Arms entities were also included.

“Russia has continued to destabilize Ukraine and provide support for the separatists, despite its statements to the contrary,” said David Cohen, the Treasury undersecretary for for terrorism and financial Intelligence.

President Barack Obama will make a statement shortly on the sanctions and U.S. foreign policy, the White House said.

The United States and Europe have imposed a range of sanctions already in response to Russia’s incursion into Ukraine this spring. Those have included asset freezes and travel bans.

Russia and Ukraine have been engaged in a tense standoff since March, when Russia annexed Crimea and massed troops along its border with Ukraine.

In recent months, there have been pro-Russian separatist stirrings in the eastern regions of Donetsk and Luhansk.

Ukraine’s government in Kiev has accused Russia of allowing weapons and military equipment, including tanks, to cross the border illegally into the hands of pro-Russia separatists.

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