EU Aims at Russian Banks, Technology in Widest Sanctions

The European Union curbed Russia’s access to bank financing and advanced technology in its widest-ranging sanctions yet over President Vladimir Putin’s backing of the rebels in eastern Ukraine.

EU governments agreed today in Brussels to bar state-owned banks from selling shares or bonds in Europe and restricted the export of equipment to modernize the oil industry, a key prop for Russia’s economy, the EU said in a statement. New contracts to sell arms to Russia and the export of machinery, electronics and other civilian products with military uses will also be banned.