Europe News

Russian oil giants listed in next EU sanctions: WSJ

Visitors sit in the OAO Rosneft stand in the sponsor's hall at the St. Petersburg International Economic Forum (SPIEF)
Andrey Rudakov I Bloomberg via Getty Images

The next round of European Union sanctions on Russia will add three major oil groups to the list of Russian companies barred from raising new money in the bloc's capital markets, The Wall Street Journal reports.

The three oil companies-- Gazpromneft, the oil-production and refining subsidiary of OAO Gazprom, oil transportation company Transneft, and oil giant Rosneft -- will be forbidden from raising funds of longer than 30 days' maturity.

Five state-controlled banks, including Sberbank and VTB Bank, already barred from raising funds for longer than 90 days under the July sanctions, will also have the maximum maturity cut to 30 days.

The new sanctions, a modest expansion on those agreed in late-July, were agreed on Friday and are expected to implemented Tuesday.

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