FINANCIAL TIMES: … “My assessment is that this package strikes the right balance when it comes to cost/benefit ratio and scalability/reversibility over time,” wrote Mr Van Rompuy. “It should have a strong impact on Russia’s economy while keeping a moderate effect on EU economies.”
According to officials who have seen the legislation, it closely follows a 10-page options paper distributed to diplomats earlier in the week, which would ban Europeans from participating in the sale of new stocks or bonds of large Russian state-owned banks. Government-owned banks account for most of the Russian financial sector.
It would also bar exports of high-tech equipment needed by Russian energy companies for deep-sea drilling, Arctic exploration or shale oil projects, and impose an embargo on all weapons and “dual use” goods sought by the military… (more)
