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EU to Impose New Russia Sanctions Tomorrow, Set Terms for Review

Thursday, 11 Sep 2014 07:21 AM

Sept. 11 (Bloomberg) -- New European Union sanctions against Russia will be enacted tomorrow, while the EU also will lay out its conditions for eventually suspending the measures, three EU officials said.

Ending days of wrangling, representatives of the 28 EU governments agreed to implement plans to bar some Russian state- owned defense and energy companies from raising capital in the bloc, the officials said under condition of anonymity in Brussels.

Some EU countries had argued that going ahead with the restrictions now would provoke the Kremlin, giving it a pretext to break the cease-fire prevailing in eastern Ukraine. An EU statement later today will spell out what Russia needs to do to get the curbs lifted, the officials said.

EU governments voted for the sanctions on Sept. 5, delaying their implementation as the cease-fire between Ukraine and Russian-backed separatists began to take hold.

To contact the reporter on this story: James G. Neuger in Brussels at jneuger@bloomberg.net To contact the editors responsible for this story: Alan Crawford at acrawford6@bloomberg.net Jones Hayden

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Thursday, 11 Sep 2014 07:21 AM
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