05:10 GMT +326 September 2016
Live
Gazprombank sign

New EU Sanctions to Restrict Russia's Access to European Energy Companies: Reports

© Sputnik/ Denis Abramov
Business
Get short URL
02200

The representatives of the European Union (EU) agreed that new economic sanctions against Russia could afffect local energy companies, the Cyprus News Agency (CNA) reported citing EU diplomats.

MOSCOW, September 6 (RIA Novosti) - The representatives of the European Union (EU) agreed that new economic sanctions against Russia could afffect local energy companies, the Cyprus News Agency (CNA) reported citing EU diplomats.

"The access of Russian energy and defense companies to European markets will be limited, Moscow could be denied access to services from European energy companies, and the export from the EU to Russia will become even more limited for dual use products, which can be used for both civilian and military purposes," CNA reported.

The new sanctions affecting 20 more officials from Russia and eastern Ukraine will ban officials from entering the EU and could potentially freeze their assets.

One of the diplomats said that the ban will affect the loans from the EU to Gazprombank and oil company Gazprom Neft. However, the new sanctions may be delayed if the ceasefire is observed in eastern Ukraine, according to the sources.

On the eve of the second meeting of a trilateral Contact Group on Ukraine in Minsk, Kiev authorities and independence supporters agreed on a ceasefire that started at 6:00 p.m. Kiev time (15:00 GMT) on Friday.

Tags:
economy, sanctions, business, energy, Gazprombank, Gazprom Neft, EU
Community standardsDiscussion
Comment via FacebookComment via Sputnik
  • Сomment
Top stories