The European Union extended sanctions against Russia on Ukraine until the end of July

The European Union has extended economic sanctions against RUSSIA until the end of July this year, follows from a publication on the EU Council website.

“The EU Council has decided to extend the restrictive measures that are currently in force in relation to certain sectors of the Russian economy for six months, until July 31, 2022,” the document says.

Europe extended the sanctions following an assessment of the implementation of the MINSK agreements at a meeting on December 16, 2021. Then the EU supported the holding of the Normandy format summit in order to achieve the implementation of the agreements. According to the Council, Russia has not fully implemented them.

For the first time, sanctions were introduced on July 31, 2014 due to "Russia's actions that destabilize the situation in Ukraine." They restrict access to the EU capital markets for Russian banks and companies.