EU Extended The Duration Of Economic Sanctions Against Russia

EU extended the duration of economic sanctions against Russia. The deadline was extended by another six months.

The European Union (EU) announced that it has decided to extend the economic sanctions against Russia for another 6 months on the grounds that it destabilizes Ukraine. Posting on his social media account after the EU Leaders' Summit held in Brussels, EU Council President Charles Michel stated that a decision was taken to extend the economic sanctions imposed by the EU due to Russia's destabilization of Ukraine. Michel expressed that Russia must do its part to ensure the full implementation of the Minsk Agreement. Explaining that the EU will follow a principles-based, harmonious and strategic approach towards Russia, Michel said, "We have extended the economic sanctions against Russia." According to the decision, economic sanctions on Russia will be extended until January 31, 2022. Russia illegally annexed the Autonomous Republic of Crimea and the city of Sevastopol on March 18, 2014. After the annexation of Crimea by Russia and the events in eastern Ukraine, the EU, USA and some other countries began to impose economic sanctions on Russia. The EU first took the decision to impose economic sanctions on Russia in 2014. Within the scope of the extended economic sanctions, EU member states do not sell weapons to Russia. The sanctions restrict Russia's purchase of some technologies used in the oil and gas sectors from EU countries. In addition, Russian public banks are excluded from the financial sector in Europe.