A company logo is seen at the sales office of Novatek in Moscow in this September 16, 2012 file photo. REUTERS/Maxim Shemetov/Files
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Russia was counting the potential cost of Western sanctions targeting its key energy and finance sectors Wednesday, with the central bank promising to support lenders hit with penalties.The hope is to make the penalties, which had until recently mainly targeted Russian individuals, more biting economically for Russia.U.S. officials said Tuesday that roughly 30 percent of Russia's banking sector assets would now be constrained by sanctions.In the nearly two weeks since the Malaysia Airlines plane was felled in eastern Ukraine, Russia appears to have deepened its engagement in the conflict, with the U.S. and its potallies saying that Russia was building up troops and weaponry along its border with Ukraine.Despite the West's escalation of its actions against Russia, Obama said the U.S. and Europe were not entering into Soviet-era standoff with Russia.Australia's Prime Minister Tony Abbott said Wednesday he was focused on the Malaysia Airlines disaster and was not considering ratcheting up sanctions against Russia.
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