New EU Sanctions Senseless and Odd

MOSCOW, September 12 (RIA Novosti), Alexander Mosesov On Friday, the European Union extended sanctions against Russia. A new wave of restrictions deals with access to capital markets, oil and defense spheres, dual-use goods and sensitive technologies. Some individuals also came under sanctions.

Moscow warned in advance that they consider these steps of the Union inappropriate and short-sighted. An adequate measure was promised by Russia.

Companies on the sanctions list reacted quite calmly. Some have even managed to strengthen their position on the market. Shares of "Rosneft" on Friday were rising by 0.3 percent, "Transneft" - by 0.2 percent, and "Lukoil" shares - by 0.2 percent.

The currency market reacted more nervously. The dollar exchange rate rose to 37.69 rubles in "tomorrow" trading on Friday, renewing its record.

IMPOSED AS PROMISED

On Thursday, the head of the European Council Herman Van Rompuy said the new package of EU sanctions against Russia would come into force. And the document, containing the sanctions list, was indeed published in the Official Journal of the EU on Friday morning.

The EU barred three major Russian oil companies (Rosneft, Transneft, GazpromNeft) and three major defense companies (Oboronprom, United Aircraft Corporation and Uralvagonzavod) from seeking finance on European capital markets.

The union also banned sales of dual-technology equipment to nine Russian defense companies, including the Kalashnikov Concern, Russias largest producer of automatic and sniper combat arms.

The EU also banned European companies from providing services to the Russian partners for exploration and production of the deep and Arctic oil and shale oil projects, wells drilling and geological studies in particular, European Unions official document states.

Besides, 24 individuals were included into the sanctions list. Among them were Deputy Chairman of the State Duma Vladimir Zhirinovsky, several Duma members, general director of the state corporation Rostec Sergei Chemezov, and Prime Minister of the self-proclaimed Donetsk Peoples Republic (DPR) .

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New EU Sanctions Senseless and Odd

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