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World

Russia's Putin says US sanctions drive bilateral relations into a corner

Associated Press
Published | Updated
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    Russia's President Vladimir Putin arrives for an official group photo comprised of the leaders of the BRICS' nations and South American nations, during the BRICS Summit at the Itamaraty Palace, in Brasilia, Brazil, Wednesday, July 16, 2014. (AP Photo/Felipe Dana) (The Associated Press)

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    Russia's President Vladimir Putin motions to blow a kiss to journalists as he leaves the Itamaraty Palace after the BRICS Summit in Brasilia, Brazil, Wednesday, July 16, 2014. (AP Photo/Felipe Dana) (The Associated Press)

MOSCOW – Russia's President Vladimir Putin has lamented the latest round of U.S. sanctions against his country. He says they are stalemating bilateral relations and hurting not only Russian but also American businesses.

U.S. President Barack Obama on Wednesday announced broader sanctions against Russia, targeting two major energy firms, a pair of powerful financial institutions, eight arms firms and four individuals. The increased economic pressure is designed to end the insurgency in eastern Ukraine that is widely believed to be backed by the Kremlin.

Putin said in televised comments on Thursday they are hurting relations between the two countries as well as the interests of American companies. He added that Moscow is still keeping the door open for diplomacy.

Russia's biggest oil company Rosneft has a multi-billion-dollar deal with ExxonMobil.