EU extends sectoral sanctions against Russia

The European Union has extended economic sectoral sanctions against RUSSIA for six months, according to a statement on the EU Council website.

“The Council of the EU decided today to extend for another six months, until 31 January 2022, sanctions targeting specific sectors of the Russian economy,” the statement said.

We are talking about the restrictions that were introduced on July 31, 2014 in response to the situation in Ukraine. Later they were tightened.

The Council of the EU decided to extend the sanctions after the next assessment of the state of implementation of the MINSK agreements at the end of June. According to the Council, the agreements are not being fully implemented by Russia. The decision to extend was made unanimously, the statement said.

The sanctions restrict access to the primary and secondary EU capital markets for some Russian banks and companies and prohibit financial assistance to Russian financial institutions. The measures also prohibit the direct or indirect import, EXPORT, or transfer of defense materials and restrict Russia's access to certain sensitive technologies that could be used in the Russian energy sector, such as oil production and exploration .