The European Union has adopted additional restrictive measures regarding investments in the Crimea and Sevastopol. The restrictive measures comprise a ban on new investment in infrastructure projects in the transport, telecommunications, and energy sectors in the Crimea and Sevastopol, as well as a ban on exploitation of oil, gas, and minerals, the ITAR TASS news agency reports, citing the press service of the European Council.
The European Union imposed the new trade and investment restrictions in relation to the Crimea and Sevastopol as part of its policy of non-recognition of the annexation of the peninsula by Russia. "Key equipment for the same six sectors may not be exported to the Crimea and Sevastopol; finance and insurance services related to such transactions must not be provided," the European Council said in a statement.
However, a European source told ITAR TASS that the existing projects involving foreign capital could be continued.
In addition, the European Council agreed that eight persons and three entities will be added to the list of those subject to asset freezes and visa bans, inter alia for providing support to or benefiting from Russian decisions makers responsible for the destabilization of eastern Ukraine and the illegal annexation of Crimea. This brings the number of persons and entities under EU restrictions to 95 persons and 23 entities.
These measures will come into force after their formal adoption by the council and their publication in the EU Official Journal, scheduled for late on July 30.
As reported, the European Union’s sanctions also affect two ports in the Crimea and the Kerch ferry.
