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US Sanctions Close Putin Associates

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AP Photo / Evan Vucci

President Barack Obama is expanding economic sanctions against Moscow, targeting 20 individuals inside and outside the government as well as a Russian bank that provides them support.

The Treasury Department says among those sanctioned is Sergei Ivanov, one of Putin's closest associates. Also being hit are a private bank owned by Yuri Kovalchuk, who is considered to be Putin's banker; and two life-long Putin friends who have become multibillionaires during his presidency.

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