EU extends sanctions against Russia for 6 months

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The European Union decided on Monday to extend the economic sanctions imposed on Russia since 2014 for another six months, citing Moscow’s destabilization of Ukraine.

Under the decision by the European Council, European sanctions against Russia will continue until January 31, 2022.

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The European Council stated in a statement that the decision to extend the sanctions was taken during the summit of European Union leaders that took place on 24-25 June.

The sanctions stipulate that EU member states will not sell arms and some sensitive technologies used in the oil industries to Russia.

The sanctions also provide for the exclusion of Russian public banks from the financial sector in Europe.

Following a unilateral referendum on March 16, 2014, Russia annexed Crimea.

This was not recognized by the international community and was followed by the imposition of sanctions on Moscow by the European Union, the United States, and several countries.