The European Council will restrict exports to Russia of equipment for the oil industry, as well as dual-use electronics, Bloomberg has reported, citing an informed source.
In addition, Russian state-owned banks will be denied access to the
financial markets in Europe. In particular, they will be banned from
selling shares or bonds in Europe.
The source also said that the list of persons subjected to sanctions
had been extended. Eight individuals and three legal entities will be
added to the sanctions list. This information will be officially
announced on Wednesday.
The above measures will take effect from the date of the official publication of the relevant resolutions on July 31.
“The political implications of the escalation in tensions are likely
to cast a further chill over relations between Russia and the West.
Economic costs are starting to bite, but it could be a while before the
economic consequences bear domestic political costs for Russia,” reads
the report.
