Enter to win every day in CTNOW's 21 Days of Summer Giveaways. Click here to see today's prize.

Glencore International AG

U.S., EU impose new sanctions on Russia, Putin calls them a 'dead end'

President Barack Obama imposed the biggest package of U.S. economic sanctions yet on Russia on Wednesday, hitting Russia's largest oil producer Rosneft and other energy, financial and defense firms, with what he called significant but targeted penalties. Obama's latest round of sanctions came after close consultations with European leaders, who announced a less-ambitious package. The ultimate impact of the U.S. sanctions likely depends on whether the European Union follows suit. Russian President Vladimir Putin responded almost immediately, speaking in Brasilia, he said the sanctions would damage U.S. energy companies, and bring relations with Russia...