EU sanctions against Russia crucial for financial markets - ING

FXStreet (Łódź) - Egor Fedorov from ING comments on the West's fresh sanctions against Russia, listing the ones which are the most important for financial markets.

Key quotes

"EU nationals and companies may no longer provide loans to five major Russian state-owned banks."

"Trade in new bonds, equity or similar financial instruments with a maturity exceeding 30 days, issued by the same banks, have been prohibited."

"Debt financing to three major energy companies has also been prohibited also in relation to trade in their bonds and equity with a maturity of more than 30 days."

"Providing services related to the issuing of the above financial instruments, eg, brokering, is also included in the prohibition."

"Services necessary for deep water oil exploration and production, arctic oil exploration or production and shale oil projects in Russia may no longer be supplied, for instance drilling, well testing or logging services."