Sweeping new US and EU sanctions target Russia's banks and oil companies

[alp227]

Source: The Guardian

Russia’s largest banks, oil producers and defence companies will be cut off from international finance and technology under sweeping new economic sanctions announced by the US and Europe that substantially escalate western political pressure over Ukraine.

In coordinated moves that may unnerve already jittery financial markets, the US Treasury and European Union announced on Friday that Russia’s largest bank, Sberbank, would be barred from accessing their capital markets for any long-term funding, including all borrowing over 30 days.

Existing 90-day lending bans affecting six other large Russian banks will also be tightened to 30-days, something US officials claim will sharply increasing their borrowing costs and deny access to important dollar-denominated funding sources.

Even more draconian measures were imposed on the Russian energy industry, where the US and Europe are attempting to shut down important new exploration projects in Siberia and the Arctic by barring foreign oil companies from providing any equipment, technology or assistance to deepwater, offshore, or shale projects.

Read more: http://www.theguardian.com/world/2014/sep/12/russia-sanctions-us-eu-banks-sberbank-oil-gazprom

[merrily]

1. We'll end that Red Menace yet!

In other news, we'll also conquer evil and we'll get that wabbit.

Signed (XOXO),

The Acme Corporation

[L0oniX]

6. +1

[bemildred]

2. Russia: new EU sanctions look ‘strange’ says Putin

Europe’s new sanctions against Russia over its alleged role in the Ukraine crisis have come into force. That is despite a week-old ceasefire deal which appears fragile but is largely holding.

The measures affect ordinary Russians.

“Imposing sanctions on other countries is very good,” said Vladimir Putin. We need to develop industries of our own here.”

“What really worries me is not the measures imposed from Europe, but the ones that were announced in return from our side, because they affect individual people,” said Alisa.

http://www.euronews.com/2014/09/13/russia-new-eu-sanctions-look-strange-says-putin/

[bemildred]

3. Putin trying to destroy Ukraine, says its PM

KIEV, Sept 13 (Reuters) - Ukraine's prime minister said on Saturday Russian President Vladimir Putin aimed to destroy Ukraine as an independent country and said only NATO could defend the ex-Soviet republic from external aggression.

Kiev and its Western backers accuse Moscow of sending troops and tanks into eastern Ukraine in support of pro-Russian separatists battling Ukrainian forces in a conflict that has killed more than 3,000 people. Russia denies the accusations.

A fragile ceasefire negotiated by envoys from Ukraine, Russia, the separatists and Europe's OSCE security watchdog, has been in place in eastern Ukraine for more than a week and is broadly holding despite sporadic violations.

"We are still in a stage of war and the key aggressor is the Russian Federation ... Putin wants another frozen conflict (in eastern Ukraine)," Prime Minister Arseny Yatseniuk told a conference attended by European and Ukrainian lawmakers and business leaders.

http://www.trust.org/item/20140913075354-x9tk0/

[bemildred]

4. Second Russian aid convoy arrives in Ukrainian city of Luhansk - agencies

MOSCOW, Sept 13 (Reuters) - More than half the vehicles of a Russian humanitarian aid convoy have arrived in the eastern Ukrainian city of Luhansk, Russian media reported on Saturday.

News agency RIA Novosti said that 100 lorries arrived on Saturday morning, with around 100 more lorries expected to reach the city during the course of the day.

The convoy, the second sent by Russia to the rebel-held city, contains 1,880 tonnes of aid including canned food, sugar, flour and diesel generators, RIA Novosti reported.

In August, Ukraine and its Western allies denounced the arrival of a first huge convoy that crossed the border without Kiev's permission.

http://www.trust.org/item/20140913074924-nubke/

[L0oniX]

5. This is stupid.