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D Dominion Energy Inc

51.18
0.20 (0.39%)
After Hours
Last Updated: 23:53:37
Delayed by 15 minutes
Share Name Share Symbol Market Type
Dominion Energy Inc NYSE:D NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.20 0.39% 51.18 52.085 49.93 50.99 7,032,166 23:53:37

EU Widens Sanctions on Russia

12/09/2014 11:58am

Dow Jones News


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BRUSSELS--The European Union extended its sanctions on Russia and rebels in eastern Ukraine on Friday, adding 15 companies and 24 individuals to its blacklist and imposing new measures against the country's oil and defense sectors, in an effort to target those dealing with the separatists.

The measures, initially approved on Monday, reinforced steps taken in July restricting trade, commerce and financial links with Russia. They will indirectly affect companies including Exxon Mobil Corp., which works with state-controlled oil companies in Russia.

Under the widened sanctions list, it is "prohibited to directly or indirectly purchase, sell, provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 30 days."

As previously reported in The Wall Street Journal, three state-controlled oil companies--OAO Gazpromneft, the oil unit of OAO Gazprom; oil pipeline operator company OAO Transneft; and oil giant OAO Rosneft--are effectively forbidden from raising funds of longer than 30 days" maturity in European capital markets. Three defense companies are also targeted by the financial sanctions. They include United Aircraft Corporation--the parent company of the manufacturer of MiG and Sukhoi fighter jets--and Uralvagonzavod, which makes tanks.

Companies and individuals are also prohibited "to sell, supply, transfer or export, directly or indirectly, dual-use goods and technology" from nine Russian companies, including small-arms manufacturer JSC Kalashnikov, ammunition manufacturer NPK Technologii Maschinostrojenija, and state-owned companies OAO Almaz Antey and OAO NPO Bazalt.

U.S. President Barack Obama said the U.S. would join in a coordinated action, raising pressure on Moscow even as a cease-fire appears to be taking hold in eastern Ukraine. The EU and the U.S. also indicated the sanctions could be rolled back later if Russian President Vladimir Putin abides by commitments to seek a negotiated settlement to the conflict between the Ukrainian government and pro-Russia separatists.

The EU is also imposing a travel ban and asset freeze on another 24 individuals, including people linked to the rebels and Russian officials and oligarchs, and Russian lawmakers. The list includes Sergei Chemezov, one of Mr. Putin's known close associates and the chair of the Rostec conglomerate, the leading Russian state-controlled defense and industrial manufacturing corporation.

Russian lawmaker, former presidential candidate and firebrand ultranationalist lawmaker Vladimir Zhirinovsky was also on the list.

Write to Frances Robinson at frances.robinson@wsj.com and Laurence Norman at laurence.norman@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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