EU extends sanctions against Russia

The EU Council formally extended the anti-Russian sanctions imposed in connection with the annexation of Crimea and the situation in the Donbass, up to 31 January 2017. This is stated in the message on the website of the authority.

“The sanctions target the financial, energy and defense sectors, as well as dual-use goods”, — reminded in the EU. The decision to renew the sanctions is due to the fact that the Minsk agreements on Ukraine were not fully implemented until December 31, 2015.

21 June, the permanent representatives of EU countries in Brussels agreed to extend sanctions for six months. It was expected that the document will be officially signed in the end of last week.

The EU recalled that the sanctions include the restriction of access to primary and secondary EU capital market for financial institutions with majority state share, and “daughters” in which these organizations have a majority stake and that are established outside the EU. Restrictions imposed on major Russian energy companies and defense firms.

The EU limits Russia’s access to certain strategic importance technologies and services that can be used for the development and production of oil. In the Union there is a ban on exports to Russia dual-use goods for military purposes or for the Russian army.

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As written Financail Times in early June, the country-supporters of the easing of sanctions against Russia changed its position. The state suggested to discuss the easing of restrictive measures at the end of the year. The revision of sanctions will be discussed at the EU summit in December 2016, said the newspaper.

Sanctions against Russia were imposed in connection with the annexation of Crimea, which the Western countries considered the annexation, and the situation in the Donbass. Initially, they applied to certain natural and legal persons, but were then extended to the energy, defense and financial sectors.

In response to the limitations of Moscow in August 2014 introduced counter-sanctions, in particular, the food embargo. On 29 June the President of Russia Vladimir Putin extended the ban on the import of certain products until 31 December 2017.