Tuesday, July 29, 2014

Europe steps up sanctions on Russia

LONDON — The European Union on Tuesday approved a package of expanded sanctions against Russia over the conflict in eastern Ukraine, where Moscow has been widely accused of supporting separatist rebels.

The new sanctions target Russia’s state-owned banks, and will restrict sales of arms, some kinds of technology and some equipment used by the oil industry. European diplomats also drew up a list of Russian oligarchs who will face individual sanctions.

European governments were moving in lock step with the United States on the new round of sanctions, despite concerns that they would pay an economic price for confronting the Kremlin more aggressively.
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