Russia: EU prolongs economic sanctions by six months

Dec 21, 2017 3:28 pm

On 21 December 2017, the Council prolonged economic sanctions targeting specific sectors of the Russian economy until 31 July 2018

This decision follows an update from President Macron and Chancellor Merkel to the European Council of 14 December 2017 on the state of implementation of the Minsk agreements. The duration of the sanctions was linked to the complete implementation of the Minsk agreements by the European Council on 19 March 2015, which was foreseen to take place by 31 December 2015. Since this did not happen, and given that the Minsk agreements have still not been fully implemented, the Council has extended the sanctions by a further six months.

The Council formalised this decision today by written procedure and, in line with the rule for all such decisions, unanimously.

The measures were originally introduced on 31 July 2014 for one year in response to Russia’s actions destabilising the situation in Ukraine. They were strengthened in September 2014. They target the financial, energy and defence sectors, and the area of dual-use goods.

The economic sanctions prolonged by this decision include:

In addition to these economic sanctions, several EU measures are also in place in response to the crisis in Ukraine including:

Source URL: http://eurasiatx.com/russia-eu-prolongs-economic-sanctions-six-months/