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Reuters
Reuters
Business
Francesco Guarascio

EU to tighten sanctions on Russian oil companies, but stops short of import ban - source

European Union Russia Rosneft Gazprom Neft Transneft
FILE PHOTO: A logo of Russian state oil firm Rosneft is seen at its office in Moscow, October 18, 2012. REUTERS/Maxim Shemetov

European Union states are set to adopt new sanctions against Russia's oil majors Rosneft, Transneft and Gazprom Neft, but will continue to buy oil from them, an EU source told Reuters on Monday.

The three companies are already subject to EU restrictions on loans and debt financing. Under the new package to be discussed later on Monday by EU top diplomats, they will also face an investment ban, which is expected to freeze their funding from sources in the EU in new production and exploration projects in all fossil fuels.

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