Economics, EU – Baltic States, Legislation, Russia
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Friday, 19.04.2024, 10:22
EU agreed on economic sanctions against Russia
BC, Riga, 29.07.2014.
Print version
Print versionThe European Union agreed Tuesday to impose broad economic sanctions against Russia, hoping to force Moscow to reverse course in Ukraine, informs LETA reffering to EU sources.
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The new measures go beyond the asset freezes and visa bans used until now, instead imposing restrictions on the finance, defence and energy sectors so as to increase the cost to Russia of its continued intervention and support of pro-Moscow rebels in Ukraine.
An unnamed diplomat called the sanctions "significant" as they are intended to curb access to financial markets for Russian banks, and will ban export of military hardware and energy technology to Russia, among other things.
The sanctions are expected to take effect already this coming Thursday.
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