The West is moving to up the pressure on the Russian economy once again. Moscow remained defiant over increased fighting in Eastern Ukraine that left at least 30 people dead over the weekend. President Putin blamed Ukraine for the rocket shelling attack on the city of Mariupol, saying that the rebels were simply responding to a government offensive. Over 5,000 people have now been killed in eastern Ukraine since fighting began in April. President Obama announced over the weekend that the U.S. would work with its trading partners to further increase pressure on the Russian economy. The ruble dropped almost 3% on the prospect of further Western sanctions. The currency has already lost about half of its value this past year.
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