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European Council president confirms new sanctions on Russia

September 11, 2014, 17:32 UTC+3 BRUSSELS
Earlier on Thursday, a source in the EU foreign policy service said the EU ambassadors have made a decision the new package of sanctions against Russia will take effect as of September 12
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European Council President Herman Van Rompuy

European Council President Herman Van Rompuy

© EPA/STEPHANIE LECOCQ

BRUSSELS, September 11. /ITAR-TASS/. European Council President Herman Van Rompuy confirmed on Thursday that the European Union will bring a new round of sanctions against Russia on September 12.

"The new EU sanctions on Russia will take effect on Friday, September 12, 2014," he said. "In the light of the review and if the situation on the ground so warrants, the Commission and the EEAS /EU diplomatic service/ are invited to put forward proposals to amend, suspend or repeal the set of sanctions in force, in all or in part," he added.

He said this will depend on the realisation of the peace plan in Ukraine.

It has been confirmed that new sanctions against Russia stipulate restrictions on loans for 3 defense companies, 3 energy companies and 5 large state banks. They also include restrictions on services for deep drilling at oil deposits, including on shelf. The black list has been expanded with 24 more people, including new leaders of Donbass, Crimean government, representatives of Russian authorities and major businesses.

Earlier on Thursday, a source in the EU foreign policy service said the EU ambassadors have made a decision the new package of sanctions against Russia will take effect as of September 12.

“The decision is ready. New sanctions will take effect tomorrow, on September 12, when they are published in the Official Journal of the European Union,” the source said.

At the same time the official added that they may be revised or cancelled altogether depending on the march of events in Ukraine.

“In particular, it will depend on the observance of the ceasefire agreement and on implementation of the settlement plan,” the source said.

Infographics Economical sanctions against Russia Economical sanctions against Russia
The USA, EU, Canada and Australia have introduced sanctions against Russia over its involvement in the Ukrainian crisis. Infographics by ITAR-TASS
According to Western media, the new sanctions are applicable to three Russian oil majors - Rosneft, Transneft and Gazprom neft, as well as several holding companies in the arms manufacturing sector.

Furthermore, sanctions may hit such Russian arms manufacturers as Uralvagonzavod, Oboronprom and United Aircraft-building Corporation.

The European Union plans to cut the maximum period of Russian bonds’ circulation in the 28 EU countries to 30 days from 90.

According to media reports, at least 20 individuals will be added to the black list for Russia and Ukraine.

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