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Ukraine may impose sanctions against Russian companies

12:05 04/08/2014

MOSCOW, August 4 (RAPSI) - Ukraine plans to impose sanctions on companies with Russian ownership operating in the country similar to those introduced by the US and the EU. They would affect financial transactions, oil and gas production equipment and military cooperation, Kommersant reports Monday.

A source in the Ukrainian government told the newspaper that the restrictions will concern companies with over 50% of Russian assets. The Ukrainian State Fiscal Service reported that the government had already received a list of up to 1,000 companies that could be affected.

According to Kommersant’s source in the government, the sanctions will affect only certain companies from the list, those mainly linked with Russian state-run companies. The first sanctions – already unofficially approved by the Ukrainian government – are comparable to those introduced by the US and the EU.

They include a ban on attracting financing for more than 90 days, a ban on supply of military and dual purpose equipment and goods, as well as on the supply of oil and gas equipment. The details of further sanctions are being discussed. Presumably, companies with Russian assets could be restricted in privatization and public tenders. Russian gas companies could also be banned from the Ukrainian market.

The banning of military and dual purpose supplies are in fact not a new measure. The supplies were actually suspended in mid-June by resolution of Ukrainian President Petro Poroshenko.

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Ukraine may impose sanctions against Russian companies

12:05 04/08/2014 Ukraine plans to impose sanctions on companies with Russian ownership operating in the country similar to those introduced by the US and the EU. They would affect financial transactions, oil and gas production equipment and military cooperation, Kommersant reports Monday.
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