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 Ukrainian Politics, Economics
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 Panic on Moscow Exchange due to Threat of new EU Sanctions

According to Russian media, today currency exchange rates are soaring on the Moscow exchange in anticipation of new EU sanctions.

As of 11:20 the dollar gained more than 22 kopeks, while the euro gained 30, Censor.NET reports citing Novyy Region.

The European Union is set to act rough against Russia, since the Kremlin has not fulfilled any demands for specific actions aimed at de-escalation of the conflict in Ukraine.

By today the European Commission was to prepare the necessary documents on Russian individuals and companies, which will be included in the "black list" of the European Union.

Read also: U.S. Prepared to Expand Existing Russia Sanctions

This concerns companies and individuals who "materially or financially supported the actions" of the Kremlin's annexation of Crimea or received financial benefits from this process. Also sanctions against the financial and energy markets of Russia and the export of military and dual-use goods are in the books.

Earlier German Chancellor Angela Merkel, usually not big on emotional statements, urged the EU to accelerate the adoption of economic sanctions package against Russia.

According to Merkel, "The Kremlin does not wish to contribute to the rapid pacification of the pro-Russian groups in eastern Ukraine, as well as creates a problem with unhindered access of international experts to the airliner's crash site," Merkel said, according to Spiegel.

The EU is ready for its third summit this summer to impose sanctions, if Russia does not provide a framework for the investigation of the Boeing downing.

 
 
 
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