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September 19, 2014
Wednesday, July 30, 2014

EU reveals sanctions against Russian individuals, firms

A defiant Russia dismissed today unprecedented Western sanctions over Ukraine after Brussels and Washington unveiled the toughest punitive measures against the Kremlin since the Cold War.

The European Commission published the names of eight Russians, including some of President Vladimir Putin's associates, and three companies which will have their assets frozen as part of sanctions against Russia's actions in eastern Ukraine.

The people on the list include Arkady Rotenberg who is Putin's long-time judo partner, and already on a US sanctions list since March.

Yury Kovalchuk and Nikolai Shamalov - the two largest shareholders in Bank Rossiya, a St. Petersburg company that expanded rapidly after Putin moved to Moscow and became president in 2000 - were also blacklisted.

The companies named include Russian National Commercial Bank, which was the first Russian bank into Crimea after the region's annexation by Russia earlier this year.

The other two firms are anti-aircraft weapons maker Almaz-Antey and Dobrolyot airline, which operates flights between Moscow and Simferopol in the Crimea.

Tension between Moscow and the West over Russia's backing for rebels in eastern Ukraine worsened after the downing of Malaysian flight MH17 over rebel-held territory on July 17 by what Western countries say was a Russian-supplied missile.

Wednesday's list of names brings the number of people and entities subject to travel bans and asset freezes to 95 people and 23 organisations.

Russia in turn announced a ban on most fruit and vegetable imports from Poland and said it could extend it to the entire European Union, a move Warsaw called Kremlin retaliation for new Western sanctions over Ukraine imposed on Russia.

Moscow called the new EU and US sanctions "destructive and short-sighted" and said they would lead to higher energy prices in Europe and damage cooperation with the United States on international affairs.

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Tags:  EU  Russia  Putin  Ukraine  sanctions  





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