New EU Sanctions Hit Maker of AK-47

EU freezes assets of 24 more politicians, rebel leaders
By Arden Dier,  Newser Staff
Posted Sep 12, 2014 9:15 AM CDT
New EU Sanctions Hit Maker of AK-47
A Russian exhibitor from Kalashnikov, center, explains the workings of an AK-104 at the Land, Naval & Internal Homeland Security Systems Exhibition in New Delhi, India, on Feb. 6, 2014.   (AP Photo /Manish Swarup)

The European Union today moved to further punish Moscow for its intervention in Ukraine—in the form of a new set of sanctions. The EU announced it will ban the export of technology for military use to Russian arms-maker Kalashnikov (maker of the AK-47) along with eight other companies, restrict access to financial markets for state oil firms Rosneft and Gazprom Neft, and put asset freezes and travel bans on 24 Russian officials and rebel leaders in Ukraine, Reuters and the BBC report. Members of Putin's inner circle are among the targets, including Sergei Chemezov, chairman of arms group Rostec. A battle-tank manufacturer and an aerospace firm that makes military helicopters were also hit.

"I never felt before this level of solidarity," Ukraine's President Petro Poroshenko said of the news. But as some EU members worry Russia could retaliate—the country has suggested it could bar Western airlines from Russian airspace, the AP reports—the EU says the sanctions will be eased if the ceasefire with Ukraine holds. The US is also expected to hit defense companies and arms makers with its own sanctions later today "in light of Russia's actions to further destabilize Ukraine over the last month," President Obama says. The US will reportedly limit Russian bank Sberbank's access to US equity and debt markets and tighten restrictions on other Russian banks, the Guardian reports. (More European Union stories.)

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