CEOs of biggest Russian firms could be hit by sanctions – Report

Gazprom14 March 2014, News Wires – The CEOs of Russia’s two largest firms are on a list of those who may be hit next week with European and U.S. sanctions over the Crimea crisis, a German newspaper said on Friday, suggesting tougher than expected measures against Russia’s elite.

Moscow shipped more troops and armour into Crimea on Friday and repeated its threat to invade other parts of Ukraine, showing no sign of heeding Western pleas to back off from the worst East-West confrontation since the Cold War.

Russia’s stock markets tumbled and the cost of insuring its debt soared on the last day of trading before pro-Moscow authorities in Crimea hold a vote to join Russia, a move all but certain to lead to U.S. and European Union sanctions on Monday.

European officials told Reuters the EU was working on a five page list of 120-130 Russians who could be subjected to asset freezes and travel bans.

Officials were still debating whether to hit a large number of Russians when the measures take effect at the start of next week, or target a smaller number initially and expand the list if the crisis continues.

Germany’s Bild newspaper reported that Alexei Miller, boss of natural gas monopoly Gazprom, and Igor Sechin, head of Russia’s biggest oil firm Rosneft, would be among those targeted, along with senior ministers and Kremlin aides.

Reuters was not immediately able to confirm the Bild report.

Rosneft spokesman Mikhail Leontyev said sanctions on his firm’s boss would be “stupid, petty and obvious sabotage of themselves most of all. I think it will primarily affect Rosneft’s business partners in the West in an extraordinary way.” Gazprom and the Kremlin declined to comment.

– Reuters

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