US Sanctions More Efficient, Says Former Politician ({{commentsTotal}})

News
News

US sanctions against Russia have more affect as they target giants of industry, while EU sanctions are limited, says Estonian transit expert and former minister Raivo Vare.

“The strongest part (of new EU sanctions) is that the EBRD (European Bank for Reconstruction and Development) and the EIB (European Investment Bank), both financing development, have stopped payments and some EU financial support has also been halted,” Vare told ERR radio today.

He said the latest round of US sanctions take a new approach, targeting economic sectors instead of businesses or certain people. US citizens or companies are not permitted to finance a number of companies, including Gazprombank, Rosneft, Novatek and Vnesheconombank, which Vare said are all flag ships of the Russian economy.

Both the US and EU announced new sanctions on Wednesday and today, saying that Russia has not fulfilled promises to help bring an end to the Ukraine crisis.



{{c.alias}}
{{c.createdMoment}}
{{c.body}}
{{cc.alias}}
{{cc.createdMoment}}
+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long
{{comment.captcha.word.answer}}

news.err.ee

Opinion
Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.

Ermamaa: The fine art of passing the buck

Admit nothing, blame everyone: those most closely involved in the Ermamaa case don’t need arguments, writes ERR News editor Dario Cavegn.

About us

Staff & contacts | Comments rules

Would you like to contribute an article, a feature, or an opinion piece?

Let us know: news@err.ee