EU imposes further sanctions on Russian companies

The European Union has imposed new sanctions on Russian companies, Rosneft, Transneft and Gazprom Neft by banning the debt financing.

The decision has been published in the EU official journal saying “the direct or indirect purchase or sale of, the direct or indirect provision of investment services for, or assistance in the issuance of, or any other dealing with bonds, equity, or similar financial instruments with a maturity exceeding 30 days, issued after 12 September 2014″ is banned.

The decision refers to “entities established in Russia which are publicly controlled or with over 50 % public ownership which have estimated total assets of over 1 trillion Russian Roubles and whose estimated revenues originate for at least 50 % from the sale or transportation of crude oil or petroleum products as of 12 September 2014.”

LNG World News Staff, September 12, 2014; Image: Rosneft