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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russia’s Sberbank (Sber) posts $4.3bn IFRS net profit in 1Q24

Russia’s largest lender state-controlled Sberbank (Sber) posted an 11.3% year on year increase in IFRS net profit to RUB397bn ($4.3bn) in 1Q24. As followed by bne IntelliNews, in 2023 ... more

Uncut diamond giant Alrosa must sell stake in Angola's Catoca, Russian deputy FM says

Russian uncut diamond major Alrosa will have to sell its stake in Angola's Catoca diamond mining company owing to the latter's concerns about the prospects for collaborating with the sanctioned ... more

Russian MTS Bank raises $125mn in IPO on Moscow Exchange

Russian MTS Bank completed an initial public offering (IPO) at the upper end of the price range of RUB2,500 per share, floating 13.3% of the shares on Moscow Exchange, raising RUB11.5bn ($125mn) at a ... more

Follow Us On

Most Read

  1. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    3 days ago
  2. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    9 days ago
  3. The models are wrong, climate change is accelerating faster than predicted
    10 days ago
  4. COMMENT: Aliyev continues to block the chance of peace in the South Caucasus
    5 days ago
  5. Central European populism bites the hand that feeds it
    5 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    2 years ago
  2. Saudi Arabia to scale back plans for Neom city
    25 days ago
  3. Iran vs Israel: Who is better equipped for war?
    21 days ago
  4. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    26 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    6 months ago

Reports

Dismiss