EU sanctions to exclude Russia from capital markets

Series Title
Series Details 25.07.14
Publication Date 25/07/2014
Content Type

Reports for the period 24 - 28 July 2014 covering the continuing developments in Ukraine following the downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed separatists on 17 July 2014.

EU ambassadors (COREPER) met on the 24 July 2014 to discuss options to curb Russian access to capital markets, arms and energy technology in response to the downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed separatists on 17 July 2014 [please check ESO Background information links for more sources]. Such talks would continue on the following day.

Jan Hofmeyr from the Institute for Justice and Reconciliation considered in an article published by EurActiv on the 25 July that the Baltic states would feel a strong impact from the sanctions imposed against Russia.

In the meantime, General Philip Breedlove, NATO's top commander in Europe, proposed that the Polish city of Szczecin expanded its existing base to help the military alliance respond faster to any threat posed by Russia. Several senior German lawmakers also raised the possibility of stripping Russia of its right to host the 2018 World Cup.

However, EU ambassador to Russia Vygaudas Ušackas welcomed Moscow’s decision to back the UN Security Council resolution on the Boeing crash in eastern Ukraine, which was presented on the 21 July 2014

A meeting of the EU's Committee of Permanent Representatives on the 25 July 2014 concluded that legislative texts should be prepared for all four areas presented in a draft paper by the European Commission: restricting access to EU capital markets for Russian state-owned banks and companies, as well as banning trade in arms, sensitive technologies and goods that can be used both for civilian and military purposes.

The Russian Foreign Ministry said on the 26 July 2014 that the proposed new EU sanctions against it over the Ukraine crisis would jeopardise security co-operation against terrorism.

On the 27 July 2014 the Dutch Prime Minister Mark Rutte said that his government had dropped its plans to send a military mission to secure the site of the crash of the plane. ‘We have to state that a military mission could lead to an escalation, to a dangerous situation, and that could get in the way of our main target, that of bringing back the victims.’

Source Link
Related Links
EurActiv, 25.07.14: NATO to expand Polish base in response to Russian threat
EUObserver, 25.07.14: German, Dutch firms ready to take hit from Russia sanctions
ESO: Background information: Council conclusions on Ukraine. Foreign Affairs Council meeting, Brussels, 22 July 2014 / All options are open in terms of sanctions: Dutch foreign minister
EurActiv, 25.07.14: Estonia, Baltic states stand to suffer most from Russia sanctions
EurActiv, 25.07.14: German politicians mull moving 2018 World Cup from Russia
RIANovosti, 25.07 14:Moscow's Support of UN Resolution on MH17 ‘Step in Right Direction’ - EU Envoy to Russia
The Moscow Times, 25.07.14: Russia Backs UN Resolution for Access to Ukraine Plane Crash Site
The Guardian, 24.07.14:MH17 crash: sanctions against Russia are illegal, ambassador claims
The New York Times, 24.07.14: Ukraine Crisis Is Testing E.U.’s Resolve
Deutsche Welle, 25.07.14: US accuses Russia of firing across border at Ukraine military
BBC News, 25.07.14: US says evidence shows Russia fired artillery into Ukraine
Blog: Project Syndicate, 22.07.14: Putin’s Tipping Point?
BBC News, 26.07.14: EU sanctions weaken anti-terror efforts - Russia
Deutsche Welle, 26.07.14: EU adds to Russia sanctions list, prepares new measures
Council of the European Union: Press Release, PRES/14/432: EU sanctions over situation in Eastern Ukraine strengthened
EUObserver, 25.07.14: EU to hit Russia with economic sanctions next week
EUObserver, 26.07.14: EU blacklist sheds light on Putin's rag-tag Ukraine army
EUObserver, 25.07.14: EU sanctions on Russia hurt more than it seems [Analysis]
BBC News, 27.07.14: MH17 crash: Dutch PM rules out military mission to secure site
Dutch, 27.07.14: Dutch drop Ukraine military mission plan: too dangerous says PM
EurActiv, 28.07.14: Clegg backs calls to strip Russia of soccer World Cup
Spiegel Online International, 21.07.14: The Boomerang Effect: Sanctions on Russia Hit German Economy Hard
European Commission: RAPID: STATEMENT/14/242: Ukraine: European Commission adopts legislative proposals on restrictive measures
EUObserver, 28.07.14: Multi-billion losses expected from Russia sanctions
EurActiv, 29.07.14: EU gets deal on list of Putin associates for sanctions
EurActiv, 28.07.14: Russia, Germany in diplomatic battle over Ukraine sanctions
Deutsche Welle, 29.07.14: Western leaders plan Russian sanctions
UK: GOV.UK: Prime Minister's Office: Press Release, 28.07.14: Joint call with Obama, Merkel, Hollande and Renzi

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