Ukraine will impose sanctions on Russian defense firms and financial institutions, as well as transportation companies operating on the Crimea Peninsula, President Petro Poroshenko said Friday.

 

According to Poroshenko’s statement posted on his official website, the restrictive measures will be applied to Russian defense companies and financial institutions allegedly providing military equipment and financing for self-proclaimed Donetsk and Lugansk people’s republics in eastern Ukraine.

 

The sanctions will also affect shipping and air transport operators that violate Ukraine-imposed ban on entry to Crimean ports and airports, Poroshenko added.