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Currency Analyst since 2010

New coordinated sanctions against Russia

Russia keeps getting penalized for backing of armed rebels in eastern Ukraine. The United States and Europe have made a joint effort on Tuesday. The new sanctions are designed to hit major pillars of the Russian economy, including oil and gas supplies and technology, banking and finance, and arms sales. Close associates of Putin are also targeted.

The US sanctioned three Russian banks and a state-owned shipbuilder that serves Russia’s navy and oil and gas industry.

The EU curbed Russia’s access to bank financing and advanced technology in its widest-ranging sanctions, including an arms embargo and limits on access to European capital markets for Russian state-owned banks. Details of the EU sanctions are expected to be published Thursday and the measures are supposed to kick in on Friday.

Manuel Balce Ceneta/The Associated Press

 

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