July 31, 2014 / 3:20 PM / 3 years ago

EU names 5 Russian banks banned from raising capital

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BRUSSELS, July 31 (Reuters) - The European Union banned five Russian banks from raising capital on the European Union's capital markets as part of a wider package of sanctions on Moscow over its actions in the Ukraine conflict.

The list, published on Thursday, comprises Sberbank , VTB Bank, Gazprombank, Vnesheconombank (VEB) and Russian Agriculture Bank - Rosselkhozbank.

Due to enter into force on Aug. 1, the ban targets Russian banks with state ownership of more than 50 percent. It excludes EU subsidiaries of the Russian banks.

In 2013, 47 percent of the bonds issued by Russian public financial institutions were issued in the EU's financial markets, estimated to be worth 7.5 billion euros ($10.04 billion). (Reporting by Martin Santa; editing by Barbara Lewis)

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