West pulls punches on sanctions for Russia over Crimea. EU whittles down list of targets

Both the US and European Union held back Monday, March 17, from harshly punishing Russia for going through with the Crimean referendum, which overwhelmingly approved union with Russia. The US imposed travel bans and froze the assets of seven top Russians and three Ukrainians, while the European foreign ministers in Brussels listed 21 mostly unnamed targets for those same sanctions for a period of six months.

President Barack Obama warned Moscow not to go any further but rather to engage in dialogue for resolving the Ukraine crisis diplomatically.

‘No Losses’ in Cyprus – Russia

MOSCOW, April 17 (RIA Novosti) – Russian state-controlled and private companies have not sustained any losses due to the financial crisis in Cyprus, Prime Minister Dmitry Medvedev said on Wednesday.

That refers to all “state structures and even a significant number of private companies,” he said in his address to the lower house of the Russian parliament, the State Duma.