Obama orders new sanctions against Russia

WASHINGTON — The Obama administration sought to further pinch Russia’s economy Wednesday, bringing its toughest sanctions to date against major Russian banks, energy companies and weapons makers in a bid to convince the Kremlin to end its “provocations” in Ukraine.

Among the entities targeted are two Russian banking giants and Kalashnikov Concern, the company that makes AK-47s — the standard Soviet and Russia assault rifle — along with the head of Russia’s Federal Security Service. The sanctions target Russia’s oil and gas industry for the first time, limiting access to U.S. capital for new projects.