Russia’s largest and second largest banks from Friday (1 August) will no longer be able to raise money on EU markets, as economic sanctions enter into force.
Published in the EU official journal on Thursday, the sanctions are the hardest-hitting so far and go beyond the US, which targeted smaller Russian lenders.
The EU reaction comes in response to Russia’s continued support and supply of weapons to pro-Moscow rebels in east Ukraine despite widespread belief they shot down Malaysia Airlines flight MH17 using a Russian-supplied missile, killing 298 people, mostly EU citizens.
EU hits Russia’s largest banks, imposes arms embargo.
