Twisting banks

On Thursday, the EU Council officially approved the decision on sector sanctions "in connection with Russia's actions to destabilize the situation in eastern Ukraine." Sanctions are introduced from August 1 for a year with the possibility of review after 3 months.

Sberbank, VTB, Gazprombank, Vneseconobank and Rosselkhozbank fell under the sanctions. They are closed with access to the financial markets of Europe, it is forbidden to sell bonds in euros and the issue of shares in favor of European shareholders.

EU sanctions also relate to the oil sector, the military-industrial complex, dual-use products and the technology sphere. In particular, a ban on the supply of equipment for the oil industry, on technological cooperation with Russia in the development of Arctic shelf and shale deposits is introduced.

The EU also introduced the embargo for weapons with Russia and the export of dual -purpose technologies. These restrictions will not affect the already concluded contracts. This was insisted by France, which intends to sell to Russia two Mistral helicopter carriers.

In addition to sector, EU has introduced targeted sanctions against 95 Russians and 23 Russian companies.

On July 29, the United States imposed sectoral sanctions against the Bank of Moscow, VTB and Rosselkhozbank. Citizens and enterprises of the United States are prohibited to provide these banks with loans and purchase their property for a period of 90 days. Sberbank did not get on the American sanctions list.

Earlier, the Americans imposed sanctions against Vnesheconombank, Gazprombank, Rosneft, Novateka, eight defense enterprises, the Feodosia oil company, as well as the Donetsk and Lugansk People’s Republics.