The speaker: the renewal of EU sanctions against Russia were expected

The speaker: the renewal of EU sanctions against Russia were expected

NAIROBI, December 18. The extension of EU sanctions against Russia and it was expected the Russian economy will not change, told journalists the Minister of economic development Alexei Ulyukayev.

“It was an expected decision, nothing new we have not heard, absolutely will not affect the Russian economy”, – he said.

A source in Brussels said that the EU ambassadors agreed on Friday to extend the intact economic sanctions against the Russian Federation until 31 July 2016.

The EU Council should make the final decision on sanctions on December 21.

The expected solution

Earlier in the week that the ambassadors will decide on the extension of sanctions on 18 December, said the head of the European Council Donald Tusk.

See also

Source: the ambassadors of the EU agreed to extend sanctions against Russia by six months

“The reason for this is the decision of the March EU summit, which linked the lifting of sanctions with the full implementation of the Minsk agreements,” he said.

At the end in Friday’s final in this year’s summit of the EU heads of States and governments of 28 countries of the European Union the subject of sanctions against Russia was not affected.

About this korr. said a source close to the Council of the EU.

“The sanctions regime against Russia was not raised at the summit at all,” the diplomat said.

The history of sanctions

The EU imposed sectoral economic sanctions against Russia on 1 August 2014, 12 September, they were extended, and in October mitigated. In a set of sectoral sanctions included restrictions in the access to European financing for five Russian banks – Sberbank, VTB, Gazprombank, Vnesheconombank and Rosselkhozbank.

See also

Tusk: the decision on EU sanctions against Russia will be linked to the implementation of the Minsk agreements

The “daughter” of Russian state-owned banks registered in the territory of the European Union, have been withdrawn from sectoral sanctions.

The second element of the sanctions was the arms embargo and a ban on the supply to Russia of dual-use technology, primarily electronic.

The third element was a ban on providing Russia with new technologies and sale of high-tech equipment for the oil sector. We are talking about equipment and technologies for shelf mining and oil development, shale oil, Arctic drilling. Experts note that in the context of falling oil prices, this asset has lost all practical significance.

In addition to these measures the EU has imposed a ban on the import into the EU of goods from Crimea and Sevastopol, transport and visa restrictions in respect to their inhabitants within the so-called Strategy of non-recognition of the Crimea became part of Russia.

Separate the sanctions track is the so-called blacklist of individuals and organizations, who are denied access to the EU and to the European banking sector. The list includes over 150 people, including representatives of the proclaimed Donetsk and Lugansk national republics, and 37 legal entities – in the first place, military and civilian structures of LNR and DNR.

See also

All sanctions of the West against Russia