BRUSSELS (AFP) ― The European Union hit Russia with tougher sanctions on Friday, targeting oil and defense companies and adding individuals to a blacklist despite threats of retaliation from Moscow.

The measures hit big name firms such as Russian oil giants Rosneft and Transneft, and arms firm Kalashnikov, maker of the iconic AK47 assault rifle widely used around the world.

The firebrand nationalist Vladimir Zhirinovsky is one of several allies of Russian President Vladimir Putin on the list of 24 people hit with travel bans and asset freezes.

The new round of sanctions ― the latest in a series since Russia annexed Crimea in March ― took effect Friday after being published in the EU’s official journal.

“In view of the gravity of the situation, the (European) Council considers it appropriate to take further restrictive measures in response to Russia’s actions destabilizing the situation in Ukraine,” the order said.

The EU’s 28 member states finally approved the sanctions on Thursday after a week of deep divisions about whether they should be implemented despite a ceasefire in Ukraine.

But European Council president Herman Van Rompuy said the punitive measures could be lifted depending on a review of the Ukraine truce at the end of September.

Russia is a major trading partner for the EU and many member states, especially in eastern Europe, rely heavily on Russian oil and gas supplies to keep their economies going.

Under the new sanctions, oil producers Rosneft and Transneft plus the petroleum unit of gas giant Gazprom are denied access to longer-term finance in crucial European markets.

Russian deep sea and arctic oil exploration are also targeted.

The sanctions further target United Aircraft Corporation ― the parent company that produces MiG and Sukhoi fighter jets among others ― tank maker Uralvagonzavod, and state-controlled aerospace holding company and helicopter maker Oboronprom.

Small-arms maker Kalashnikov is on a list of companies to which EU nations are now barred from selling technology that could be used for military purposes.

The sanctions further tighten financing restrictions on state-owned Russian banks, who will be limited to raising debt with a maturity of not more than 30 days, compared with the 90 days set previously.

The blacklist of 24 individuals includes Zhirinovsky, a former presidential candidate and colorful nationalist lawmaker responsible for a series of anti-Western outbursts.

Zhirinovsky “actively supported the use of Russian armed forces in Ukraine and annexation of Crimea (and) ... actively called for the split of Ukraine,” the sanctions order said.

Also targeted is Sergei Chemezov, the head of state-owned Rostec industrial corporation, described as a “known close associate” of Putin who was a KGB officer with the Russian president in Dresden, East Germany in the 1980s.

Rostec subsidiaries were supporting Crimea’s annexation by Russia, the list said, adding that Chemezov “is benefiting from his links with the Russian President by being promoted to senior positions in state-controlled firms.”

The sanctions further name several deputy speakers of the Russian parliament, with 14 Russian officials, eight separatist leaders in Ukraine and two officials in Crimea on the list in total.

The 24 are added to people hit by earlier rounds of EU sanctions, meaning 119 are now subject to a ban on travel to the EU and a freeze of their assets.

Russia has warned there will be a stiff response to the latest sanctions, targeting consumer goods and second-hand cars, having previously halted a long list of food imports from the EU.

The Russian ruble slumped to a new record low of 37.72 against the dollar on Friday after the sanctions entered into force.

US President Barack Obama had also announced Thursday that Washington would intensify punitive measures against Moscow.

Friday’s EU sanctions are a toughening up of measures adopted in July after the shooting down of Malaysia Airlines flight MH17 over rebel-held east Ukraine.