April 25 2014, 10:40 Source: APK-Inform Views: 1103

EU considers sanctions against financial institutions in the Crimea

The European Union is considering to impose ban for businesses and citizens from the EU countries on financial transactions with the banks engaged in activities at the territory of the Crimea, announced the draft document prepared by the European Commission for the EU governments on April 24.

“The same could hold for prohibiting investments by Crimean investors (companies located or registered in Crimea) into the EU and by EU investors into Crimean entities,” it said.

Also, the possibility of imposition the reporting limitations will be considered separately from the issue on possible stepping up of the economic sanctions against Russia, to the possibility of implementing more specific enforcement actions against Crimea.

The Commission proposals are still under review, and a decision whether to follow them is likely to be taken by EU foreign ministers, whose next meeting is on May 12.


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