EU imposes sanctions on three Russian banks and an agency – EU Journal – Business & Economy

MOSCOW, February 24. /TASS/. The European Union has introduced restrictive measures against Bank Rossiya, Promsvyazbank, VEB.RF and Internet Research Agency, according to the decision on the sanction published in the EU Journal on Thursday evening.

VEB.RF was notably sanctioned for “projects with defense industry companies, including Rostec, which provide support for actions that compromise and threaten the territorial integrity, sovereignty and independence of the Ukraine,” the document reads. Promsvyazbank provides “financial support to the Russian defense sector and the Russian military, which is responsible for the massive deployment of Russian troops along the border with Ukraine and the presence of Russian troops in the Crimean Peninsula” , indicates the decision.

The European Union has also introduced sanctions against Russian sovereign debt by limiting access to capital and financial markets. “Restrictions on access to the capital market should be imposed, including prohibiting funding from Russia, its government and its Central Bank,” according to the document. Certain technological restrictions are introduced, in particular on the sale or transfer of defense or dual technologies to Russia.

The EU has also banned its companies from having contacts with the Donetsk and Luhansk people’s republics, including trade, investment and technical assistance.

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