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Poroshenko Signs Sanctions Against Russia for 'Financing Terrorism'

Ukraine has prepared a list of individuals and companies, including Russian oil giant Gazprom, to be targeted for "financing terrorism" by backing separatists in the country's East.

Ukrainian President Petro Poroshenko has signed a law paving the way for the imposition of economic sanctions against companies and individuals, Interfax news agency reported on Wednesday.

The law, approved by Ukraine's parliament last month, is expected to target companies and individuals in Russia suspected of supporting and financing pro-Russian separatists battling Ukrainian forces in eastern Ukraine.

The government has already prepared a list of 172 citizens of Russia and other countries, and of 65 Russian companies, including gas export giant Gazprom GAZP.MM, on whom they could impose sanctions "for financing terrorism."

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