EU approves sectoral sanctions against Russia
The European Union has approved new sanctions against Russia, which will affect some sectors of the country's economy. The EU Council said in a statement the sanctions will ban access of Russian oil companies to some vital technologies, to the primary and secondary capital markets for public companies in Russia, to impose an embargo on the supply of arms and dual-use goods.
“The package of new restrictive measures agreed today by the European Union constitutes a powerful signal to the leaders of the Russian Federation: destabilising Ukraine, or any other Eastern European neighbouring State, will bring heavy costs to its economy,” President of the European Commission Herman Van Rompuy said in a statement.
Earlier, the European Union had imposed sanctions against individuals and companies from Russia and Ukraine. The United States also imposed sanctions against a number of strategic companies in Russia, limiting their access to long-term loans.