In March 2014, the United States and the European Union (EU) issued the first in a series of sanctions against the Russian Federation
for its destabilization of Ukraine and annexation of Crimea. These restrictions, which initially focused on senior Russian government officials and private individuals, have expanded
to include large corporations, financial institutions, and even entire economic sectors. In retaliation, Russia has adopted counter-sanctions
of its own. With the US Treasury Department adding new sanctions
in recent weeks—after the US Senate had passed its own legislation on the issue with almost unanimous support
—it appears unlikely that the West will relent in the near future.