The holidays are coming, and the European Union has prepared a great present for Russia. Relations between Moscow and Brussels are still tense, so the Council of the European Union decided to extend sanctions which are thought to be useful for Russia. The Iskanders will remain in place, and the Russian domestic production will continue blooming. Besides, this decision means that Russia will also prolong its counter sanctions, namely the food embargo.
Consequently, the European farmers are likely to lose more money, the economic growth will probably be dented without access to the Russian market, and it will be difficult for the Europeans to manage their space program. According to the official press release, the decision to extend sanctions against Russia was taken after French President Emmanuel Macron and German Chancellor Angela Merkel informed the European Council about the state of the Minsk accord implementation on December 14, 2017. Thus, the Russians may raise a toast to “the useful sanctions” at a holiday table.
The Western countries blocked access to the European capital markets for a number of big Russian state corporations and their subsidiaries in the financial, energy and defense industries. Besides, the export of arms, technology, and dual-use goods from Russia was banned on July 31, 2014 in response to the annexation of Crimea. Then, the restrictions were prolonged by 6 months several times due to non-compliance with the Minsk agreement.
