The European Union (EU) has announced that it has extended its economic sanctions against Russia for another 6 months.
EU “Today, the Council decided to extend restrictive measures targeting certain economic sectors of Russia by six months until July 31, 2022. The council’s decision follows the latest assessment of the implementation of the Minsk agreements.”
The information given on the background of the decision referred to Russia’s position on
Ukraine. “The sanctions, first imposed on July 31, 2014 in response to Russia’s actions destabilizing the situation in Ukraine, limit the access of certain Russian banks and companies to EU primary and secondary capital markets and prohibit financial assistance and mediation for Russian financial institutions,” the statement said.
“Sanctions also prohibit the direct or indirect import, export or transfer of all defense-related materials and impose a ban on military use or military end users in
Russia. The sanctions further restrict Russia’s access to certain sensitive technologies that can be used in the Russian energy sector, such as oil production and exploration,” the statement said, adding that restrictions on economic relations between Russia and the EU would last at least 6 months.