EU 'Highly Unlikely' to Toughen Sanctions Against Russia

The EU is unlikely to second Washington’s decision to add new names to its roster of blacklisted Russian companies, because America has been less affected by the anti-Russian sanctions than its European allies, Alexei Devyatov, chief economist at the Center of Financial and Economic Studies in Moscow, told RIA Novosti.

On Thursday, the US Department of the Treasury added a number of Russian companies and individuals to the list that includes subsidiaries of Russian gas giant Gazprom.

The DoT also banned US citizens and companies from doing business with Mostotrest Company, which is currently building a 19 km road-and-rail bridge across the Kerch Strait to Crimea.

“The action demonstrates Treasury’s steadfast commitment to maintain sanctions until Russia fully implements its commitments under the Minsk agreements, including a comprehensive cease fire,” the Treasury Department said in a statement.

“Frankly speaking I don’t believe [the Americans] are serious about toughening these sanctions simply because this hurts them too, especially the Europeans. I think they will be watching their step here and will try to figure out who is to blame for the non-implementation of the Minsk accords,” Alexei Devyatov said.

He added that it was highly unlikely that Russia’s corporate sector will suffer as only a fraction of Russian companies feature on the US sanctions list.