EU agrees economic sanctions for Russia

Written By Unknown on Sabtu, 06 September 2014 | 22.40

The EU has said it has agreed on a tough new package of economic sanctions against Russia, despite a ceasefire between government forces and pro-Kremlin rebels in Ukraine.

The sanctions tighten existing measures imposed in July, targeting more individuals with travel bans and asset freezes.

They will also include the tightening of access to capital markets for Russian oil and defence companies.

European Council President Herman Van Rompuy and European Commission chief Jose Manuel Barroso said in a letter to European leaders that the new measures were an "effective tool" to "reinforce the principle that EU sanctions are directed at promoting a change of course in Russia's actions in Ukraine".

US President Barack Obama and British Prime Minister David Cameron had both said at a NATO summit in Wales yesterday that the sanctions should go ahead in spite of the truce signed in Belarus yesterday.

But they both said that the sanctions could be lifted if there was evidence that Russia was taking steps to solve the situation in Ukraine.

The new EU sanctions will be formally approved on Monday, although the full details of the people and organisations targeted will not be released for another day, diplomats said.

Leaders of the 28-nation EU had asked officials at a summit last Saturday to draw up fresh sanctions after alleging that Russia had sent troops and tanks to support a rebel counteroffensive in Ukraine, a claim Moscow denies.

Five months of fighting in Ukraine has killed 2,600 people.

The new blacklist targets more people linked to the rebel leadership in the Donbass region of eastern Ukraine, the government of Crimea, which was annexed by Russia in March, and Russian "decision-makers and oligarchs", Mr Van Rompuy and Mr Barroso said.

The July sanctions were imposed in the wake of the shooting down of Malaysia Airlines flight MH17 over eastern Ukraine, allegedly using a missile fired by pro-Russian rebels.

The European Union meanwhile said that it welcomed the Ukraine truce.


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