US announces 'severe' sanctions on Russia over annexations

US also announced that G7 allies support imposing "costs" on any country that backs the Kremlin's attempt to incorporate the Ukrainian regions

The United States on Friday announced "severe" new sanctions against Russian officials and the country's defense industry in response to the Kremlin's declaration that it has annexed four areas of neighboring Ukraine.

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"The United States is imposing swift and severe costs on Russia," the White House said in a statement. It also announced that G7 allies support imposing "costs" on any country that backs the Kremlin's attempt to incorporate the Ukrainian regions.