On Monday, the European Union decided to extend its economic sanctions against Russia for another six months (until January 31, 2016) due to the Kremlin’s continuing influence over the conflict in Ukraine. During the meeting in Luxembourg, the foreign ministers of 28 European countries agreed that they needed to further extend restrictions for Russia.
The sanctions were first introduced in July 2014, after the Crimea rejoined Russia separated from Ukraine. They addressed the country’s finance, energy and defense industries.
In response, as predicted by a number of experts, Moscow would choose to extend its embargo on European Union food products.
According to Maya Kosyanchich, spokeswoman of the European Union, the sanctions are aimed at completing the execution of the Minsk Agreements. Approved in February 2015, a package of measures for the implementation of the Minsk Agreements included, among others, pullback of foreign armed groups from eastern Ukraine and withdrawal of all heavy weapons by equal distances. However, this is already the second agreement being violated, official observers say.
FX.co ★ Sanctions against Russia extended by 6 months
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