EU 'to Introduce Russia Sanctions Friday'

Business | September 11, 2014, Thursday // 10:26|  views

Photo by BGNES

The Council of the European Union is to go ahead with a new package of sanctions targeting Russia on Friday, a diplomatic source has announced.

Measures could however be reversed depending on the situation in the east of Ukraine, the source was quoted by Russian agency ITAR-TASS as saying.

EU leaders have not yet unveiled the full list of sanctions, but reports suggest they are mostly targeting the oil industry, with Russia's top concerns Rosneft, Gazprom neft and Transneft supposedly on the list.

Banks are also thought to be included.

US officials have shown willingness to join the sanctions package by freezing billions-worth of activities to develop gas deposits in Russia.

Moscow, for its part, has threatened to seal off its airspace for Western flight operators if further sanctions are adopted.

Brussels announced earlier this week the new restrictions had already been given the green light, but would be implemented within a few days' time.

Reports emerged later of disagreement among EU leaders on whether the bloc should introduce more sanctions, with the discussion expected to continue on Thursday.

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Tags: Rosneft, Gazprom Neft, Transneft, EU, Council of the European Union, Russia, Ukraine


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