European business opposed the new anti-Russian sanctions

© RIA Novosti / Igor Megaliterature in fotoreceptori building in Washington, the seat of the U.S. Congress. Archival photoEuropean business opposed the new anti-Russian sanctions© RIA Novosti / Igor Megaliterature the image Bank

The Association of European businesses (AEB) has expressed disagreement with the new anti-Russian sanctions by Washington.

«The Association believe that business is one of the important links between States and people, and the principles of free trade should not be subject to such restrictions», — reads the statement of the AEB. This organization unites more than 500 companies from the EU and the European free trade Association and is the main representative of the interests of foreign investors in Russia and in the Eurasian economic Union.

The Association urged the heads of States and governments of EU, USA and Russia to develop a new line of conduct, which «would separate business from politics and to find a common, mutually acceptable solution in the spirit of peace and harmony».

The US President Donald trump on Wednesday signed a law involving some extension of sectoral sanctions against the Russian economy.

In particular, the document reduces the maximum term of financing of Russian banks under U.S. sanctions, up to 14 days, and oil and gas companies, up to 60 days (now 30 days and 90 days, respectively). In addition, the adjusted round deep water and Arctic offshore projects and oil and gas projects with hard to recover reserves that are not allowed to supply equipment and technology.

The act also provides that the head of state can impose sanctions against persons who invest in the construction of Russian export pipelines over five million dollars a year or a million dollars at a time. In addition, sanctions can be imposed for the provision of services, technology, information support in the construction and modernization of the Russian export pipelines. The law separately States that the United States will continue to oppose the project «Northern stream — 2».

European business opposed the new anti-Russian sanctions© RIA Novosti, Infografiken sanctions against Russia and retaliatory measures