Europe

Home page

Europe

EU prolongs economic sanctions against Russia by six months

27 June 2019 17:56 (UTC +04:00)

The European Council prolonged economic sanctions targeting specific sectors of the Russian economy until 31 January 2020, APA reports citing press-service of the European Council.

The measures target the financial, energy and defense sectors, and the area of dual-use goods. They were originally introduced on 31 July 2014 for one year in response to Russia's actions destabilizing the situation in Ukraine and strengthened in September 2014.

The economic sanctions prolonged by this decision include: limiting access to EU primary and secondary capital markets for 5 major Russian majority state-owned financial institutions and their majority-owned subsidiaries established outside of the EU, as well as three major Russian energy and three defence companies; imposing an export and import ban on trade in arms; establishing an export ban for dual-use goods for military use or military end users in Russia; curtailing Russian access to certain sensitive technologies and services that can be used for oil production and exploration.