EU extended sanctions against Russia for six months
The Council of the European Union announced the extension of economic sanctions against Russia for 6 months – until January 31, 2022.
The sanctions restrict Russia’s access to the capital markets of the European Union, and also prohibit forms of financial assistance and intermediation in relation with Russian financial institutions.
In addition, direct or indirect import, export or transfer of military equipment is prohibited, and a ban is established on dual-use goods that can be used for military purposes.
The sanctions limit Russia’s access to certain technologies that can be used in the Russian energy sector, such as oil production.
For the first time sectoral economic sanctions against Russia were introduced by the European Union on June 31, 2014 in response to the actions of the Russian Federation aimed at destabilizing the situation in Ukraine. They were strengthened in September 2014, and in March 2015 the European Council agreed to link their duration to the full implementation of the Minsk Agreements.