Brussels—US President Barack Obama and British Prime Minister David Cameron on Wednesday made their strongest threats yet against Russia’s oil and gas industry, warning that further incursions into Ukraine would result in deeper sanctions and significant consequences for the Russian economy. “Energy is obviously a central focus of our efforts and we have to consider it very strongly,” Obama said after an EU-US summit in the Belgian capital. “If Russia continues on its current course...the isolation will deepen. Sanctions will increase and there will be growing consequences for the Russian economy.”
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