World press on US and EU sanctions against Russia (May 13, 2014)

"The European Union placed sanctions on a senior Kremlin aide, a top Russian military commander and a host of Crimean and separatist Ukrainian leaders as it modestly ratcheted up its reaction to the Ukraine crisis," an article by Laurence Norman published by the Wall Street Journal reads.

The list, agreed by foreign ministers of the EU member-states on Monday, includes 13 officials and two Crimea-based companies. The officials will face an EU asset freeze and travel ban. Any assets the companies have in the EU will be frozen, the author of the article informs.

According to Norman, the biggest name on the sanctions list is President Vladimir Putin's deputy chief of staff Vyacheslav Volodin, who the EU says is responsible for "overseeing the political integration" of Crimea.

"The EU has said it would consider further sanctions, including a possible new stage of broad economic sanctions. On Monday, ministers said they would decide on broadening its response in light of Russia's attitude to Ukraine's upcoming presidential election on May 25," the author writes.

According to Neil Buckley, the United States and its European allies can greatly affect the Russian economy, if they prohiit exports of technologies necessary to develop new oil and gas deposits to Russia.

Russia is now looking forward to launching oil and gas production in Siberia and the Arctic. If Western powers prevent the country from developing new deposits, it will have a major impact on Russia's energy industry even though it will not force Russia to stop oil and gas deliveries at once.

The US and EU are now seriously considering such a move, the author of the article underlines.