| Series Title | Euronews |
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| Series Details | 29.07.14 |
| Publication Date | 29/07/2014 |
| Content Type | News |
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The Council of the European Union's Committee of Permanent Representatives (Coreper) reached agreement on the 29 July 2014 on further (Stage Three) EU restrictive measures in view of Russia's actions destabilising the situation in eastern Ukraine. The measures constituted a package of significant additional restrictive measures targeting sectoral cooperation and exchanges with the Russian Federation. These decisions would limit access to EU capital markets for Russian State-owned financial institutions, impose an embargo on trade in arms, establish an export ban for dual use goods for military end users, and curtail Russian access to sensitive technologies particularly in the field of the oil sector. German Chancellor Angela Merkel said that the decision to impose tougher sanctions against Russia was 'unavoidable' after its actions in Ukraine and it was now up to Russia to make the next move. A joint statement by the Presidents of the European Council and European Commission said the sanctions were meant as a 'strong warning' to Russia. The G7 group of rich industrialised countries said in a statement on the 30 July 2014 that Russia would face further economic sanctions if it continued to support rebels in Ukraine. The G7 group included the United States, Canada, France, Germany, Italy, Japan and the United Kingdom. Russia the new US and EU sanctions as 'destructive and short-sighted', and said they would lead to higher energy prices in Europe. The Council of the European Union formally adopted the new Stage 3 sanctions on the 31 July 2014 (PRES/14/437 - see related url hyperlink below). |
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| Source Link | Link to Main Source http://www.euronews.com/2014/07/29/eu-to-impose-economic-sanctions-on-russia/ |
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| Countries / Regions | Europe, Russia, Ukraine |
