EU sanctions against Russia to take effect on Friday

FXStreet (Łódź) - European Council President Herman Van Rompuy announced that the fresh sanctions agreed by EU member states on Monday and deepening the restrictive measures introduced in July, would take effect on Friday.

The new package of sanctions includes limiting access to financial markets for Russian oil companies Rosneft, Transneft, Gazprom as well as for three military-industrial companies. It also imposes travel bans and asset freezes on 24 more Russian individuals.

"EU may amend or suspend sanctions based on a review of peace moves to be carried out by the end of September," Van Rompuy added.