US, Europe looking at possible sanctions against Russian energy

Source: Reuters - Wed, 26 Mar 2014 14:32 GMT
Author: Reuters
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BRUSSELS, March 26 (Reuters) - U.S. President Barack Obama said on Wednesday the United States and Europe were in discussions over possible sanctions against Russia's energy sector, should Moscow move deeper into Ukraine.

"What we are now doing is coordinating around the potential for additional, deeper sanctions should Russia move forward and engage in further incursions into Ukraine," Obama told a news conference after meeting top European Union officials in Brussels.

"I think energy is obviously a central focus of our efforts and we have to consider it very strongly."

Obama also urged the EU to work towards diversifying its energy sources, in addition to asking Washington for help to offset any shortfalls from Russia.

"I think it is useful for Europe to look at its own energy assets as well as how the United States can supply additional energy assets."

(Reporting by Justyna Pawlak and Martin Santa)

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