NEWORLEANS-- President Barack Obama laid out new sanctions Tuesday targeting Russia's energy, weapons and finance industries.
The president says Russia continues to support separatist fighters in the Ukraine even after the downing of Malaysia Airlines Flight 17.
As tensions continue to flare up between Russia and the international community, the ripple effect is being felt in New Orleans. One local tour guide is seeing fewer Eastern European visitors in light of the ongoing conflict.
'What's going on between Russia and America affects right now, all of us. What I'm doing, I'm bringing Russian people, Russian tourists here,' said Tatyana Borisova.
The Moscow-native has lived in New Orleans for a decade bringing Russian and Ukrainian tourists to the Crescent City. Borisova said those visitors are canceling their trips because visas aren't being issued by the American Embassy in Moscow, while others worry about perceived U.S. hostility.
'In the last month, about 10 groups have been declined in Russia. They say they're not recommended to travel in the United States anymore because they're not going to treat you well. Which is not true. American people still very welcoming to Russian people,' Borisova said.
Obama joined the European Union in announcing sanctions against Russia for its support of pro-Russia separatists in eastern Ukraine. The White House targeted the country's oil and gas supplies, technology, finance and arms sales.
'It will have a ripple effect throughout the Russian economy. Investors will get nervous. When investors start fleeing, stock markets crash. And that's the sort of thing Putin will take account of,' said Associate Professor Chris Fettweis with Tulane University's Political Science Department.
Fettweis said rumblings of another Cold War are far-fetched.
'This is not the Cold War. There's no hint that there is going to be any military action, any kind of broader economic action. So we shouldn't be worried about that,' added Fettweis.
The new sanctions against Russia could take effect as soon as Friday.
The U.S. and European allies began sanctioning Russia after it seized and annexed the Crimea region of Russia earlier this year.