US Secretary of State John Kerry (left), shakes hands with Russian Foreign Minister Sergey Lavrov before a bilateral meeting to discuss the ongoing situation in Ukraine on Thursday, April 17, 2014
Treasury Undersecretary David Cohen is heading to Europe this week to discuss plans for a possible third round of sanctions against Russia for its incursion into neighbouring Ukraine.
The U.S. and the European Union already have imposed sanctions on Russian individuals and businesses and are contemplating additional sanctions against various sectors of the Russian economy if the situation in Ukraine further destabilizes.
Cohen will visit Germany, France and Britain and also plans to stop in Israel to discuss issues largely unrelated to Russia and Ukraine.
Russia annexed Crimea, which was part of Ukraine, in March, and pro-Russia forces have seized government buildings in a dozen eastern Ukrainian cities. Authorities in Kiev accuse Moscow of backing the insurgents and fear that Russia could grab more territory.