Thursday 17 July 2014

EU Agrees to Place Sanctions on Firms and Block Loans to Russia Over Ukraine Crisis | Business | The Moscow Times

EU Agrees to Place Sanctions on Firms and Block Loans to Russia Over Ukraine Crisis | Business | The Moscow Times:



"European Union leaders have agreed to impose sanctions on Russian companies that help destabilize Ukraine and to block new loans to Russia through two multilateral lenders.



Wednesday's decision is a significant ratcheting-up of European pressure on Russia although it falls short of the hard-hitting economic measures against Russia for which the U.S. and hawks in the EU were pushing.



Simultaneously, U.S. President Barack Obama also on Wednesday announced the most wide-ranging sanctions yet on the Russian economy, targeting key institutions including Gazprombank and Rosneft, as well as other energy and defense companies.

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