Obama says he is not leading us from behind into a Cold War. Sanctions, it’s all about the sanctions. The differences with Russia are not about a Cold War, Russia just needs to be a ‘Good Neighbor‘.

From The Wall Street Journal

“Today is a reminder that the United States means what it says,” Mr. Obama said in a statement at the White House. “The sanctions we’re announcing today will have an even bigger bite,” because they are matched by sanctions from the Europeans.

The U.S. sanctions place restrictions on VTB Group, Bank of Moscow, and Russian Agricultural Bank, among other entities.

Mr. Obama said the U.S. has evidence that Russia is arming separatists in eastern Ukraine and has launched artillery attacks over the border. Asked whether the U.S. is considering military assistance to Ukraine, Mr. Obama said Ukraine’s military is better armed than the separatists.

“The issue is how to prevent bloodshed in eastern Ukraine…and the main tool we have to influence Russian behavior is influence over its economy,” he said.

He said he would continue to engage Mr. Putin on a diplomatic solution to the crisis, while insisting that Moscow’s standoff with the West doesn’t mark the beginning of a new Cold War.

“It does not have to be this way. This is a choice that Russia, and President Putin in particular, has made,” Mr. Obama said.

“It’s not a new Cold War,” he added. “What it is is a very specific issue related to Russia’s unwillingness to recognize that Ukraine can chart its own path.”

Allen West had a pithy comment:

Just finished watching Obama’s press conference, “this is not a new Cold War” he stated, and he is correct, it is a hot war. Any time a country fires artillery into another country and has a proxy military shoot down your aircraft, it is a war — not to mention shooting down a civilian airliner. Ok, new “sanctions” — guess what, Mr. President, Putin already signed an economic agreement with China. Furthermore, when dealing with a bully, taking away his school books will not make him stop.

Apparently the European Union has agreed to place sanctions on the Russian economy. The intent is to target four economic sectors; finance, dual-use equipment that could have military applications, arms, and oil production equipment. An embargo on arms trading, exports of military goods and oil drilling and exploration.

All will be revealed on Thursday, but it is still unknown if the sanctions will take effect immediately.

Meanwhile, Obama can be found running with his tail between his legs to cower under the nearest desk, shouting “I did not re-start the Cold War!”