The EU has adopted new sanctions against Russia. They will take effect on Tuesday despite a warning of retaliation from Moscow. Top Russian state-owned oil firms will be affected, but gas companies will be spared. The measures will restrict their access to financial markets inside the EU.
It means the likes of Gasprom Neft Rosneft and Transneft will not be able to sell bonds or borrow money. The idea is that they’ll be forced to turn to the Russian state for help, further straining Moscow’s public finances. Three military companies will also be barred from borrowing money in Europe for longer than 30 days.
INC News, 08/09/2014
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