EU To Toughen Stance On Russia And Tighten Sanctions: Reuters

MarketWatch Pulse

The European Union is getting ready to tighten sanctions on Russia by widening its ban on investments in Crimea, Reuters reported on Wednesday, citing EU officials. The action is aimed at targeting Russian Black Sea oil-and-gas exploration as well as signaling that the West won't lift sanctions on Russia unless Moscow drops support for rebels in eastern Ukraine, according to the officials. The extended measures are expected to be announced at a European Council meeting in Brussels on Thursday and Friday. In the U.S., the White House said late Tuesday that President Barack Obama will sign a fresh package of sanctions on Russia.

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