EU Tightens Sanctions Against Russia

The European Union tightened economic sanctions against Russia on Friday in response to the country’s role in the Ukraine crisis, imposing additional restrictions on oil companies and extending asset freezes and travel bans to 24 more individuals. The measures, aimed at Russia’s financial, energy and defense sectors, will be reviewed by diplomats before the end of the month and could be revised swiftly if a cease-fire holds, European Union officials said on Thursday in announcing the broader action. The new round of sanctions significantly ratchets up restrictions on the Russian financial sector and prohibits European entities from buying debt with a maturity of more than 30 days, from issuing loans or from providing financial services to five banks, three oil companies and three defense firms.

http://www.nytimes.com/2014/09/13/world/europe/european-union-details-tightened-sanctions-against-russia.html?_r=0