US, EU Slam Russia With New Energy, Defense Sanctions

Law360, New York (September 12, 2014, 12:23 PM EDT) -- The U.S. and European Union moved in conjunction to dramatically escalate new sanctions against Russia on Friday, ratcheting up pressure on Moscow's financial, energy and defense sectors and further severing the nation's corporate titans from lucrative capital markets in response to the persistent unrest in Ukraine.

Among the firms targeted in the new round of sanctions rolled out by the U.S. Department of the Treasury and the U.S. Department of Commerce are Russia's two largest energy firms, OAO Gazprom and Lukoil OAO, along with the nation's largest financial institution, Sberbank of Russia.

“Given Russia’s direct military intervention and blatant efforts to...

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