Russia prepares new round of sanctions against Ukraine

Kommersant reports that the Russian government is in the
process of organizing further sanctions against Ukrainian individuals and
companies. Proposals from the agencies, due on Aug. 1, should also include
measures to mitigate the disruption caused to the Russian economy when the
measures are implemented.

According to the papers seen by Kommersant, Russia’s
sanctions will be targeting several hundred businessmen, politicians, and civil
servants and “about a hundred legal entities”. Along with a ban on travel into
Russia, their assets will be blocked and capital will not be permitted to be
withdrawn.

James Hydzik: The splash of attention on Ukraine coming from the presidential summit
in Helsinki on Monday is not connected with these sanctions. They are part of
the ongoing economic warfare, and follow on from an order signed by President
Putin on June 4. Industries are not expected to suffer greatly, though
individual companies may experience problems. In this light, Kommersant gives
the example of fertilizers as an industry that the sanctions target but which
should see little effect. Despite the large numbers falling under sanctions, we
expect to hear few complaints from those targeted – these are not sanctions
abruptly imposed and there has been time to unwind at least some positions.