EU strengthens sanctions against occupied Crimea

By bne IntelliNews December 18, 2014

The European Union has introduced additional restrictive measures against the economy of occupied Crimea, banning all investment and cruise ships from its ports to send a clear message that the bloc will not recognise Russia's "illegal annexation" of Ukraine territory, said the European External Action Service (EEAS) spokesperson Maja Kocijancic.

Under the new restrictions, European Union companies will not be allowed to buy real estate in Crimea, finance local companies or supply related services. Tourism services are also banned, with cruise ships barred from Crimea ports, except in an emergency. EU companies can no longer export goods or technology for use in the transport, telecoms and energy sectors, specifically for gas and oil exploration and production.

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