The EU Extended Sanctions Against Russia for Another Six Months

Sanctions are extended due to non-fulfillment of the Minsk agreements on the Donbass. Penalties are directed against the financial, energy and defense sectors of the Russian economy. The Council of the European Union extended economic sanctions against certain sectors of the Russian economy for another six months - until July 31, 2020. This decision was made on December, 12 after the French President Emmanuel Macron and the German Chancellor Angela Merkel informed the European Council on the implementation of the Minsk agreements, which are tied to the issue of sanctions extending, said the EU Council press release on Thursday December, 19th. The document notes that the European Council unanimously adopted a political decision to resume economic sanctions against Russia. The penalties are directed against the financial, energy and defense sectors of the Russian economy, as well as against dual-use goods. Initially, these sanctions were introduced on July 31, 2014 for a one year period  as a response to Russia's actions to destabilize the situation in Ukraine; and strengthened in September 2014. Sanctions restrict the access of five major predominantly state-owned Russian financial institutions, as well as of three major energy companies and of three defense companies to the primary and secondary capital markets in the EU, the sanctions also prohibit the export and import of weapons, and the export of dual-use goods for military use in Russia and restrict Russia's access to certain technologies and services that can be used for the production and oil refining. DW