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EU will work to block new loans to Russia through EIB, EBRD-draft
July 16, 2014 / 9:30 AM / 3 years ago

EU will work to block new loans to Russia through EIB, EBRD-draft

BRUSSELS, July 16 (Reuters) - European Union leaders will work to block loans for new projects in Russia by two multilateral lenders and broaden the scope of other sanctions in response to Moscow’s actions in Ukraine, according to a draft statement seen by Reuters on Wednesday.

EU leaders, who meet in Brussels later on Wednesday, will ask the European Investment Bank to suspend financing of new Russian public sector projects, the draft statement said.

EU countries will also work together to suspend funding for new projects in Russia through the European Bank for Reconstruction and Development, it said.

The EU will also broaden the scope of asset freezes to target companies and other organisations that undermine Ukraine’s sovereignty, the draft statement said. (Reporting by Barbara Lewis, writing by Adrian Croft; editing by)

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