EU imposed new economic sanctions on Russia over Ukraine

Sep 12, 2014 17:20 IST

The European Union on 12 September 2014 imposed new economic sanctions on Russia over Ukraine. The restrictions include financing for some Russian state-owned companies and asset freezes on leading Russian politicians.

Sanctions included asset freezes and travel bans on Igor Lebedev, Vladimir Zhirinovsky, other deputy speakers of the Russian lower house of parliament, and a number of leaders of pro-Russian separatists in eastern Ukraine.

Sanction was also put on Sergei Chemezov. He is chairman of Rostec, a leading defence and industrial group that includes arms supplier Rosoboronexport and a firm that is planning to build energy plants in Crimea.

Through this move, the EU wants to put pressure on Russia over the annexation of Crimea. Earlier, the restrictions were put on Russia in March 2014 by EU and United States.

However, EU could lift some or even all of the sanctions within weeks provided Moscow abides by a fragile truce and respects a peace plan.
The EU and the United States have been stepping up pressure on Moscow after its annexation of Crimea. West sees the annexation by Russia as an effort to further destabilise Ukraine by backing pro-Russian separatists in the east with troops and arms.

However, State-owned Rosoboronexport said it did not expect the sanctions to have an impact on its business.

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