President Barack Obama speaks on the South Lawn of the White House in Washington, Tuesday, July 29, 2014, as he announces new economic sanctions against key sectors of the Russian economy in the latest move to force Russian President Vladimir Putin to end his support for Ukrainian rebels.   (AP Photo/Manuel Balce Ceneta)

WASHINGTON (AP) — Spurred to action by the downing of the Malaysian airliner, the European Union approved dramatically tougher economic sanctions Tuesday against Russia, including an arms embargo and restrictions on state-owned banks. President Barack Obama swiftly followed with an expansion of U.S. penalties targeting key sectors of the Russian economy.

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