The European Union today (29 July) agreed to impose economic sanctions on Russia, four and a half months after it first warned Russia that it would suffer “far-reaching economic consequences” if it did not try to end the crisis in Ukraine.
The sanctions, which were agreed by the EU member states ambassadors in Brussels, prevents EU states and companies from entering new contracts to supply arms to Russia, halts the supply of some hi-tech equipment to the Russian oil industry and limits the ability of Russian state-owned banks to raise capital on the European financial markets.
The measures are expected to come …read more
Source: European Voice
