Further EU Sanctions Target Five Russian State-Owned Banks

The new sanctions package of the European Union affects five Russian banks: Sberbank, VTB, Gazprombank, Vnesheconombank, and Russian Agricultural Bank.

Censor.NET informs this citing Gazeta.ru, which refers to the Official Journal of the European Union.

The restrictions target Sberbank, VTB, Gazprombank, Vnesheconombank, and Russian Agricultural Bank. The European banks and investment companies are now banned from providing credits to the Russian banks affected, as well as any type of financial services. The names of the banks are not part of the document, as their list is the same as in the previous version dated July 31, 2014.

Read also: EU Expanded Sanctions Against Russia (updated)

The ban also embraces transactions with the newly issued bonds and other securities with circulation terms over 30 days.

As reported earlier, the new sanctions package of the EU also targets the largest Russian defense enterprises and energy companies. The European Union also blacklisted 24 more individuals, boosting the total number of physical persons under the restrictions to 119.