The United States has expanded economic sanctions against Russia in retaliation for its annexation of Ukraine’s Crimea Peninsula. Twenty individuals are targeted both inside and outside of the Russian government, as well as a private bank owned Yuri Kovalchuk, who is considered to be Russian President Vladimir Putin’s banker. While announcing the sanctions, US President, Barak Obama also demanded that Russia scale back its military presence on the Ukrainian border and to respect Ukraine’s new interim government. Today’s sanctions come after a wave of sanctions that Obama says are the most comprehensive since the Cold War. Russia retaliated by imposing entry bans on American lawmakers and senior White House officials. Russia faces more sanctions from the European Union which has been meeting to discuss the issue.