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EU Extends Economic Sanctions Against Russia For Six Months

EU Extends Economic Sanctions Against Russia For Six Months

The EU has extended sectoral economic sanctions against Russia, imposed in connection with the situation in Ukraine, for six months, until January 31, 2021, according to a statement issued on Monday by the EU Council.

"The EU Council decided today to extend the sanctions aimed at certain sectors of the Russian economy for another six months until January 31, 2021," the statement said. Earlier, the political decision to extend the sanctions was made by EU leaders at a summit on June 17-18 in the format of a video conference, after a short discussion and a formal conclusion that the Minsk agreements remain unfulfilled.

Economic sanctions against 15 Russian companies with broad state participation in the oil, banking, and defense sectors were imposed by the European Union at the end of July 2014 in connection with the events in Ukraine and the reunification of Crimea with Russia.

Restrictive measures have been extended and extended several times. In response, Russia imposed a ban on imports from the EU of several food products. In March 2015, the EU summit decided to link the lifting of sanctions against Russia to "full implementation of the Minsk agreements." Since then, twice a year, the leaders of Germany and France, as members of the "Normandy format," report at EU summits on the situation with the implementation of the Minsk agreements. The responsibility and role of the Ukrainian side in the process of their implementation are not taken into account.

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