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New EU Sanctions Against Russia To Take Effect

Posted September 11, 2014

Under Economic Issues, International Trade Issues

(Radio Free Europe)

European Union officials say new sanctions against Russia for its role in the conflict in Ukraine will go into effect on September 12.

The expanded sanctions will take effect when published in the European Union’s “Official Journal.”

The Russian ruble fell to a new record low of 37.57 to the dollar on the news.

The sanctions include a ban on loans and financing from EU countries to major Russian energy firms such as Rosneft, Transneft, and Gazprom Neft. Read more here.