EU agrees on new sanctions against Russia

The sanctions will target Russia's oil, defense and intelligence technology sectors.
By Ed Adamczyk Follow @adamczyk_ed Contact the Author   |   July 29, 2014 at 12:29 PM

BRUSSELS, July 29 (UPI) -- The European Union has agreed on new economic sanctions against Russia that will be officially revealed Wednesday, E.U. sources confirmed.

The additional sanctions, over Russian involvement in the Ukrainian conflict, will involve Russia's oil sector, defense equipment and intelligence technologies, the sources said. Access to capital by Russian state banks, and travel bans and freezes of assets of certain individuals, will likely be restricted as well.

Details of the agreement are emerging, and a full sanctions statement from EU headquarters in Brussels, Belgium, is expected Wednesday. The aim of the EU is to increase the economic burden on Russia due to its support of the separatist movement in Ukraine, and because of evidence from Western governments that the separatists were responsible for shooting down Malaysia Airlines Flight 17 as it passed over rebel-held Ukrainian territory on July 17.

U.S. Secretary of State John Kerry said the United States is preparing additional sanctions.
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