Forbes: In New Sanctions, E.U. Inches Dangerously Close To Russian Gas

Europe’s latest round of sanctions are more punishing than ever. Brussels has moved dangerously close to ticking off Russian natural gas companies.

The sanctions have hit financial markets. Russia’s foreign bond market for new OFZ debt has closed.

It’s official. Russia is the bad guy again. Following a list of new economic sanctions this month by the U.S. government, Brussels slapped Russia with its own sanctions on Tuesday. Russia has been in a political stand-off with the U.S. and Europe following the March 16 annexation of the Crimea peninsula, once part of neighboring Ukraine. The recent downing of a Malaysian Airlines flight by a missile launched by Russian separatists in eastern Ukraine have made it easier to punish Russia again. The most recent sanctions were announced in May.
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