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July 30, 2014 AT 6:17 AM
Russia blasted the West's new economic sanctions on Wednesday, accusing the U.S. of being "prosecutorial" in its drive to impose penalties on the country's key energy and finance sectors. The U.S. and European Union on Tuesday announced a raft of new sanctions that would limit the trade of arms and technology that can be used in the oil industry and for military purposes. The EU also put its capital markets off limits for Russian state-owned banks.