EU to Consider Blocking New Loans to Russia

July 16, 2014 11:21 AM

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EU to Consider Blocking New Loans to Russia

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.

The EU leaders, who are scheduled to meet in Brussels later Wednesday, will step up sanctions because pro-Russian rebels in eastern Ukraine have not met their demands to end the violence there, the draft statement said.

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