The EU will hold the first assessment the effect of sanctions, slapped on Russia on Thursday, by October 31, an EU Council spokesman said Friday.
The report will also include measures imposed by third countries and their effect, he said. Under the sanctions act, the measures may be abolished in three months after being imposed if the geopolitical situation changes.
On Thursday, the EU prohibited arms supplies to Russia, limited the shipments of oil development equipment and technologies and limited the access of the country’s largest banks to the EU long-term financing.
Five Russian banks fell under restrictions: Sberbank, VTB, Gazprombank, Vneshekonombank (VEB) and Rosselkhozbank.
The EU may revise it list of economic penalties after 3 months.
The European Union has also imposed restrictions on the access of Russian state-owned banks to the loan market; defense exports and deliveries of dual purpose hardware as well as oil extraction equipment.
However, the European Union has decided to exclude the "sisters" of Russian state-owned banks registered in the EU territory from sanctions. Restrictions on attraction of loans for more than 90 days will apply to the Russian parent companies and their "sisters" outside the EU, the Official Journal of the European Union said on Friday.
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