15:14 GMT +328 September 2016
Live
VTB Bank

US Adds More Russian Banks, United Shipbuilding Corporation to Sanctions List

© Photo: VTB
Business
Get short URL
010701

The United States on Tuesday introduced sanctions on three more Russian banks and the United Shipbuilding Corporation over the crisis in eastern Ukraine, the Treasury Department said.

MOSCOW, July 29 (RIA Novosti) – The United States on Tuesday introduced sanctions on three more Russian banks and the United Shipbuilding Corporation over the crisis in eastern Ukraine, the Treasury Department said.

The banks targeted by the sanctions include Russia's second-largest banking group VTB, the Bank of Moscow and Russian Agricultural Bank (Rosselkhozbank) with state ownership of more than 50 percent.

The measure prohibits US citizens or companies from dealing with debt carrying maturities longer than 90 days, or with new equity. Other transactions are allowed.

The United States added on July 17 new Russian individuals to its list of Ukraine-related sanctions and introduced a so-called Sectoral Sanctions Identification List that affects companies and institutions across various sectors of Russian economy.

In the banking sector, the United States targeted Russia’s third largest bank Gazprombank and Vnesheconombank, or the Development and Foreign Economic Affairs Bank.

The United Shipbuilding Corporation (USC) is involved in a deal to supply Mistral class amphibious assault ships as a sub-contractor of the STX France shipyard in Saint Nazaire.

Russia and France signed a 1.2 billion euro contract for two French-built Mistral-class helicopter carriers in June 2011. The US Department of State earlier said the delivery of Mistral warships to Russia would be "completely inappropriate" in the light of the recent events in Ukraine.

Under the contract, the first ship, the Vladivostok, is to be delivered to Russia by the end of the year, while the second, the Sevastopol, is due in 2015.

The vessels are capable of carrying 16 helicopters, four landing craft, 70 armored vehicles and 450 soldiers each.

Tags:
sanctions, Mistral, Sectoral Sanctions Identification List, Vnesheconombank, Gazprombank, VTB, Bank of Moscow, Rosselkhozbank, France
Community standardsDiscussion
Comment via FacebookComment via Sputnik
  • Сomment
Top stories