EU extends sanctions against Russia until end of January 2017

  02 July 2016    Read: 1037
EU extends sanctions against Russia until end of January 2017
The sanctions include limited access to EU capital markets for a number of Russian financial institutions, as well as energy and defense companies, a ban on arms trade, and limited access for Russia to certain oil production technologies.
"On 1 July 2016, the Council prolonged the economic sanctions targeting specific sectors of the Russian economy until 31 January 2017," the Council said in a press statement.

Relations between Russia and the West deteriorated amid the 2014 crisis in Ukraine. The European Union, the United States and their allies have introduced several rounds of anti-Russian sanctions since the reunification of Crimea with Russia in 2014, accusing Moscow of meddling in the Ukrainian conflict, a claim Russian authorities have repeatedly denied.

Washington and Brussels imposed sanctions against Russian individuals and the Russian defense, energy and banking sectors in July 2014. Russia responded by introducing a year-long food embargo on imports from the United States, the European Union and other countries that targeted Russia, subsequently extending the current embargo until August 5, 2016.

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