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EU extends economic sanctions against Russia
16:56, 19 December 2016
EU extends economic sanctions against Russia

Sanctions extended until July 31, 2017

16:56, 19 December 2016

Open source

The European Council has extended economic sanctions against Russia until July 31, 2017. This is stated in the official EU report.

"The EU Council extended the economic sanctions in relation to specific sectors of the Russian economy until 31 July 2017 on December 19, 2016", reads the statement.

The statement said that since the Minsk agreement have not been fully implemented by 31 December 2015; the EU Council extended the authorization until July 31, 2016, and on July 1, 2016 has decided to extend until January 31, 2017.

Related: EU to allocate 104 million euros for public administration reform in Ukraine

"Assessing the implementation of the Minsk agreements at the European Council meeting on 15 December the Heads of State and Government of the EU supported the decision to extend sanctions for another six months - until July 31, 2017", reads the report.

Economic sanctions include:

Restricting access to European financial markets for 5 Russia's largest state financial institutions and their subsidiaries, as well as for the three major energy and three defense companies;

A ban on the import and export of arms;

A ban on trade in dual-use goods;

Closed access to the latest technologies, which are necessary for the development of oil production and transportation.

 

Related: Ukraine, EU to fund four programs for trans-border cooperation

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