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EU prolongs Anti-Russian sanctions

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EU prolongs Anti-Russian sanctions


09.07.2018

© EPA/OLIVIER HOSLET

The decision of the European Union on prolongation of economic sanctions against Russia for another 6 months came into force on Monday, TASS reports. 

This decision followed the EU summit where leaders of France and Germany informed the rest of the heads of states and governments about the course of implementing the Minsk agreements. The UK offered to prolong the sanctions against Russia for a year instead of 6 months, but this offer did not meet approval of the EU Council.

Currently, there are several sets of sanctions imposed by the EU against Russia, they are economic restrictions, individual limitations and sanctions regarding Crimea.

The restrictions were introduced on July 31, 2014 for the first time. They concerned financial, economic and defense sectors as well as dual-use commodities. The measures include ban on weapon sales and export of dual-use items for military needs to Russia as well as limitation of access of Russia to some technologies and services, which might be applied for hydrocarbon extraction and oilfield development including offshore production and exploration at the arctic conditions.

Apart from the economic limitations, there are other two independent sets of sanctions regarding Ukraine. First of all, these are individual restrictions: ban for trips and freeze of bank assets in Europe (in case they exist or are found) for 150 physical bodies and 38 organizations. Legal bodies on this list are not Russian, for the most part: these are regulatory bodies and military structures of self-proclaimed People’s Republics of Lugansk and Donetsk. The term of this set of sanctions expires September 15, 2018. It will also be prolonged for 6 months.

The third set is target sanctions against Crimea. The European business is banned from having anything in common with Crimea. These measures are accepted as a part of so-called EU Strategy for non-acknowledgement of Russia and Crimea’s reunification effective until 23 of June, 2018. They are prolonged for 12 months annually.

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