The European Union has adopted its most toughest sanctions against Russia yet, in an attempt to exert pressure and end Russia's support of the pro-separatist rebels in Ukraine.
Five Russian key banks, including the country's largest lender, Sberbank, was one of the latest targets. See here for more on the FT.
The VTB Bank, Gazprombank, the Russian Agriculture Bank (Rosselkhozbank) and Vnesheconombank (VEB) have also been listed.
Details of the sanctions, agreed by 28 EU member states on Tuesday, were published today in the Official Journal of the European Union and will take effect as of August 1.
The sanctions announced also prohibit the future sale of defence equipment, a ban on hi-tech equipment used in the oil industry. See more here.
Those in Putin's close circle are also targetted, with many of his aides and prominent Russian oligarchs having their assets frozen, as well as being issued travel bans.
Welcoming the sanctions, the UK prime minister David Cameron warned that sanctions against Russia would be tightened unless President Putin "changes his approach", the BBC reported.
Sanctions would continue until Russia "decides to behave like any civilised country", he added, stressing however that the UK was "not looking for a military conflict".
Five Russian key banks, including the country's largest lender, Sberbank, was one of the latest targets. See here for more on the FT.
The VTB Bank, Gazprombank, the Russian Agriculture Bank (Rosselkhozbank) and Vnesheconombank (VEB) have also been listed.
Details of the sanctions, agreed by 28 EU member states on Tuesday, were published today in the Official Journal of the European Union and will take effect as of August 1.
The sanctions announced also prohibit the future sale of defence equipment, a ban on hi-tech equipment used in the oil industry. See more here.
Those in Putin's close circle are also targetted, with many of his aides and prominent Russian oligarchs having their assets frozen, as well as being issued travel bans.
Welcoming the sanctions, the UK prime minister David Cameron warned that sanctions against Russia would be tightened unless President Putin "changes his approach", the BBC reported.
Sanctions would continue until Russia "decides to behave like any civilised country", he added, stressing however that the UK was "not looking for a military conflict".