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11 septembre 2014 4 11 /09 /septembre /2014 17:50
More EU Sanctions Against Russia Set To Begin

 

Sep. 11, 2014 - By JULIAN HALE – Defense News

 

BRUSSELS — Further sanctions against Russia agreed to by European Union countries on Monday will enter into force tomorrow, an EU official said here Thursday. The measures will cover the capital market, dual use (civil and military) goods and the energy sector.

 

EU nationals and companies may no more provide loans to five major Russian state-owned banks. At the same time, trade in new bonds, equity or similar financial instruments with a maturity exceeding 30 days, issued by the same banks, has been prohibited. The same restrictions have been extended to three major Russian defense companies and three major energy companies. Providing services related to the issuing of the above financial instruments, e.g. brokering, is also included in the prohibition.

 

The EU official refused to name the three Russian defense companies ahead of publication of the sanctions in the EU’s Official Journal tomorrow.

 

An existing ban on exporting dual use goods and technology for military use in Russia has been extended to also include a list of nine mixed defense companies that must not receive dual use goods from the EU. Again, the EU official would not name the companies and would only say that there were “around 20 items” on the list but was unable to give specific examples.

 

“The measures to be published tomorrow were prepared at the end of August by EU countries in response to the flow of arms from Russia to Ukraine,” said the EU official.

 

In a press statement, the European Council’s President, Herman Van Rompuy, said that the Permanent Representatives Committee (COREPER) of EU countries will carry out a comprehensive review of the implementation of the [Russia-Ukraine] peace plan on the basis of an assessment carried out by the European External Action Service (EEAS) before the end of the month.

 

“Work on that is ongoing,” said the EU official, who added that “she expected it to be an internal assessment.”

 

“We have always stressed the reversibility and scalability of our restrictive measures. Therefore, in the light of the review and if the situation on the ground so warrants, the Commission and the EEAS are invited to put forward proposals to amend, suspend or repeal the set of sanctions in force, in all or in part,” said Van Rompuy in his statement.

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