EU extends economic sanctions against Russia over Ukraine | Abroad

The sanctions have been in place since 2014, when Russia annexed the Ukrainian peninsula of Crimea and intervened in the conflict in eastern Ukraine. The EU later linked the sanctions to agreements made in Minsk to resolve the conflict. For example, Russia then promised that Ukraine would regain control of its own borders, but that has not happened.

In December at their summit in Brussels, EU leaders discussed the state of play of the Minsk agreement and unanimously concluded that Russia is still not adhering to the agreements. Meanwhile, tensions have risen further as the Russians have increased their forces on Ukraine’s border. Negotiations on de-escalation of the situation have been ongoing with the Russians in various international and diplomatic contexts in which Washington plays a key role all week.

Borrow and invest

Due to the sanctions, Russian banks and companies are less able to borrow and invest in the EU. Furthermore, trade in anything that has to do with defense with Russia is prohibited. This also applies to goods that can be used for innocent purposes, but also for military purposes. Sales to Russia of sensitive technology for energy companies have also been restricted.

In addition to the economic sanctions, the EU has also imposed sanctions on a number of Russians who participated in the alleged interference in Ukraine. Russia is also facing sanctions against the EU, banning the import of certain foodstuffs.

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