EU sanctions against Russia Q and A: What are they and how will they affect Europe?

Europe's sanctions against Russia are targeting the finance, defence and energy sectors (Source: Getty Images)

Q What are the new sanctions?

A Europe has agreed to tough measures targeting sectors, not just individuals as has previously been the case. These are tier three measures.

Q Which sectors will be affected by the new tier three measures?

A Finance, defence and energy are the key sectors in this new round of sanctions. Russia’s access to EU capital markets will be restricted, new contracts to export arms will be banned and dual-use goods (those that could be used for military purposes) will be also banned, as well as technology for deep-water oil exploration and shale gas projects. There will also be new names and companies added to the list of people hit by asset freezes and travel bans.

Q What will the sanctions mean for Russia and for Europe?

A It’s hard to say how President Putin will react, although he is unlikely to take the new tighter sanctions well, especially as America has also toughened its stance. Prime Minister David Cameron has warned that there will be financial implications for the UK when the tier three measures come into force.

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