Russia's VTB, Sberbank 'to Enter EU Sanctions List' - WSJ

Business | July 29, 2014, Tuesday // 12:30| Views: | Comments: 7
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Bulgaria: Russia's VTB, Sberbank 'to Enter EU Sanctions List' - WSJ EU leaders hope a new round of sanctions could affect the course of Russian President Vladimir Putin regarding developments in Crimea and Eastern Ukraine, with unrest still raging the latter region. Photo by EPA/BGNES

Five people and two companies are to be added to the EU's blacklist over the Ukraine crisis, the Wall Street Journal wrote on Monday.

Sberbank and VTB Group, which are among Russia's largest banks, will reportedly be affected.

The fresh names of Russian citizens, which will reportedly include "oligarchs" from President Vladimir Putin's inner circle, will be added to the 87 Russian and Ukrainian officials on which Brussels has imposed asset freezes and travel bans since the standoff between Moscow and Kiev worsened this winter.

New entries into the list are expected to be announced on Wednesday.

The sanctions will be aimed at curtailing the presence of certain Russian entities and citizens on the EU's financial markets, where they will be barred from issuing bonds or directly requesting loans.

Some politicians on the continent expect such a development could pressure Putin into changing his stance on the Ukraine crisis.

Leaders are due to have a final say on the measures later on Tuesday.

Documents cited by Russian daily Kommersant reveal that an arms embargo and a ban on exports of dual-use equipment with possible civil and military applications will also find its place onto the agenda.

Another point will be a ban on exports of prospective gas and oil extraction technology to Russia, though such a decision will not have an impact on ongoing deliveries.

Russia's RIA Novosti agency reports that EU diplomats have also agreed to introduce commercial and investment restrictions regarding the Crimean Peninsula, which Russia incorporated following a local referendum held March 16. The measures are designed to affect Crimea's energy, transport and telecoms sector.

A report cited by the website EUObserver estimated potential damages that the sanctions would bring to the European economy at EUR 30 to 40 B until the end of 2014 and some UER 90 M by end-2015.

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Tags: Sberbank, VTB, EU, sanctions, ukraine crisis, Russia, Vladimir Putin
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» To the forumComments (7)
sa-sha - 31 Jul 2014 // 12:57:08

...."stalinist views", it's cool. "The most insulting thing"? The insulted pile of manure, great...

Naydenov - 31 Jul 2014 // 12:12:44

sa-sha and Yane, you can call me monkey, scum or any other pejoratives you typically use against people who oppose your stalinist views (very isolated views in Bulgaria). Just please don't call me Russian, that would be the lowest and most insulting thing you could call me.

allyy - 31 Jul 2014 // 09:43:37

Admittedly, navigating the remote control helicopters is not an easy task. It takes hours or even days of practice how effectively to maneuver the RC helicopter. While a navigator is still practicing how to pilot The RC helicopter, it is best that the person only fly the helicopter in a wide and open field.

sa-sha - 30 Jul 2014 // 13:14:16

To equate this degenerate "Naydenov" to monkey is the wanton insult on monkeys, Yane.

Yane - 29 Jul 2014 // 16:43:49

Naydenov = turk monkey Seedy.

Naydenov - 29 Jul 2014 // 15:34:55

Bury the Russians Germany! May they finally learn who they are and where they belong!

sa-sha - 29 Jul 2014 // 13:31:09

Gorlovka, South-Eastern Ukraine, July,27. The "central authorities" in action.

"EU leaders hope...sanctions could affect the course of Putin regarding developments in Eastern Ukraine" ???
You launched this mess, USA and You, "EU leaders". See the results? Wish You the same. Putin? Hope he'll
wake up and come to the rescue of the exterminated (by Your best friend PP, Sirs) people. Though what on earth "Sirs"...You are bastards, EU leaders.

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