• The US sanctions of July 16th primarily targeted the ability of Russian companies to raise capital denominated in US dollars. Targeted companies will not have access to US capital markets for loans with 90-day or longer maturities.
• The American sanctions do not completely forbid American firms from doing business with targeted Russian counterparts, and President Obama stated that the sanctions were designed to minimize damage to U.S. companies.
• The European Union and U.S. sanctions of July 29th are more severe than the actions taken on July 16th. They ban major Russian banks from selling equity and selling long-term debt in European markets. There is also an embargo on any new deals for arms and weaponry between Russian and European entities; existing arms deals will not be affected.
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