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EU prolongs economic sanctions on Russia

BRUSSELS, July 12 (KUNA) -- The European Union Foreign Affairs Council (EUFAC) Monday decided to prolong the sanctions targeting specific economic sectors of Russia for a further six months, until 31 January 2022 "over the destabilisation of Ukraine." EU Economic sanctions were first introduced in July 2014 in response to Russia's actions destabilising the situation in Ukraine, said EUFAC in a statement.
They were reinforced in September 2014, and in March 2015, EU leaders agreed to link their duration to the complete implementation of the Minsk agreements which is a peace plan for eastern Ukraine signed in 2014.
Sanctions limit access to EU primary and secondary capital markets for certain Russian banks and companies and prohibit forms of financial assistance and brokering towards Russian financial institutions.
The measures also prohibit the direct or indirect import, export or transfer of all defence-related material and establish a ban for dual-use goods for military use or military-end users in Russia.
The sanctions further curtail Russian access to certain sensitive technologies that can be used in the Russian energy sector, for instance in oil production and exploration, said the EUFAC which is meeting in person in Brussels today. (end) nk.rk