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EU renews economic sanctions by six months over Ukraine situation

European Health Ministers will meet on Friday via videoconference to discuss sharing of best practices for managing coronavirus crisis
The Council of European Union. Photo: @EUCouncil/Twitter

Brussels, Jan 14 (MNN) The EU Council has decided to extend restrictive measures currently targeting specific economic sectors of Russian Federation by six months to July 31, 2022 over the Ukraine situation.

The Council decision on Thursday (local time) follows the latest assessment of the state of implementation of the Minsk agreements – initially foreseen to happen by December 31, 2015 – at the European Council of December 16, 2021.

“The sanctions in place, first introduced on July 31, 2014 in response to Russia’s actions destabilising the situation in Ukraine, limit access to EU primary and secondary capital markets for certain Russian banks and companies and prohibit forms of financial assistance and brokering towards Russian financial institutions.

“The sanctions also prohibit the direct or indirect import, export or transfer of all defence-related material and establish a ban for dual-use goods for military use or military-end users in Russia.

“The sanctions further curtail Russian access to certain sensitive technologies that can be used in the Russian energy sector, for instance, in oil production and exploration,” the Council said in a statement.

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