EU prolongs economic sanctions on Russia by six months

The Jean-Claude Juncker EU Commission. The European Commission is composed of the College of Commissioners of 28 members, including the President and Vice-Presidents. The Commissioners, one from each EU country, are the Commission’s political leadership during a 5-year term. Each Commissioner is assigned responsibility for specific policy areas by the President. EU Audiovisual Services photo.

This story is brought to you in association with the European Union Council

Today, 5 July 2018, the Council prolonged economic sanctions targeting specific sectors of the Russian economy until 31 January 2019.

This decision follows an update from President Macron and Chancellor Merkel to the European Council of 28-29 June 2018 on the state of implementation of the Minsk agreements, to which the sanctions are linked.

The Council adopted this decision today by written procedure and, in line with the rule for all such decisions, unanimously.

The measures target the financial, energy and defence sectors, and the area of dual-use goods. They were originally introduced on 31 July 2014 for one year in response to Russia‘s actions destabilising the situation in Ukraine and strengthened in September 2014.

The economic sanctions prolonged by this decision include:

  • limiting access to EU primary and secondary capital markets for 5 major Russian majority state-owned financial institutions and their majority-owned subsidiaries established outside of the EU, as well as three major Russian energy and three defence companies;
  • imposing an export and import ban on trade in arms;
  • establishing an export ban for dual-use goods for military use or military end users in Russia;
  • curtailing Russian access to certain sensitive technologies and services  that can be used for oil production and exploration.

In addition to these economic sanctions, several EU measures are also in place in response to the crisis in Ukraine including:

  • targeted individual restrictive measures, namely a visa ban and an asset freeze, currently against 155 people and 38 entities until 15 September 2018;
  • restrictive measures in response to the illegal annexation of Crimea and Sevastopol, limited to the territory of Crimea and Sevastopol, currently in place until 23 June 2019.

The duration of the sanctions was linked to the complete implementation of the Minsk agreements by the European Council on 19 March 2015, which was foreseen to take place by 31 December 2015. Since this did not happen, the sanctions have remained in place.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

3 steps to boost your digital safety while working from home

Here are 4 ways investors can influence more secure and responsible innovation

Germany loves a strong euro; the new Fiscal Councils can deliver despite the Greek chaos and a wider questioning of austerity

Which countries get the most sleep – and how much do we really need?

Will the three major parties retain control of the new EU Parliament?

Five avoidable deaths per minute shows urgent need for action on patient safety

Idai disaster: Stranded victims still need rescue from heavy rains as UN scales up response

Humans aren’t made for repetition – it’s time AI took over manufacturing

A chemistry professor explains: why soap is so good at killing COVID-19

Driving structural change through global value chains integration

EU to spend €135.5 billion in 2014 or 6.5% less than this year

Vaccine against Ebola: Commission grants new market authorisations

Car bomb attack on National Police Academy in Colombia, ‘strongly condemned’ by UN

Algorithmic warfare is coming. Humans must retain control

This AI outperformed 20 corporate lawyers at legal work

A Sting Exclusive: “Europe must be more ambitious in COP21 and lead on climate finance and sustainable development”, Green UK MEP Jean Lambert points out from Brussels

Security Council urged to act with ‘one strong voice’ on raft of ills plaguing Middle East and North Africa

‘Endemic’ sexual violence surging in South Sudan: UN human rights office

Banks get trillions and the unemployed ECB’s love…

UN food aid to Yemen will fully resume after two-month break, as Houthis ‘guarantee’ delivery

At UN, Cuba slams US ‘criminal’ practices undermining country’s development

What do Europeans believe about the crisis and the possible way out?

The EU pretends not knowing what happens in the Western Balkans

Three ways the world must tackle mental health

State aid: Commission approves €6 billion German measure to recapitalise Lufthansa

This AI can predict your personality just by looking at your eyes

How music can help children with autism connect

UN appeals for international support as flood waters rise in wake of second Mozambique cyclone

What is carbon offsetting?

Number of members in Parliament’s committees to change after Brexit

Refugees now make up 1% of the world’s population

‘Democratic aspirations of the Sudanese people’ must be met urges Guterres, following military removal of al-Bashir from power

This is how COVID-19 is affecting indigenous people

Forward Agenda: What can we expect from 2019?

EP supports local authorities fighting the effects of the pandemic

World Editors Forum President: Credible media vital in the fight against COVID-19 and fake news epidemic

Britain heading to national schism on exit from EU

How should cities prepare for self-driving cars? Here’s a roadmap

UN-led Yemen ceasefire monitoring team gets ready to begin operations

On sidelines of UN climate summit, US President calls for protection of religious freedom

Canada has the most comprehensive and elaborate migration system, but some challenges remain

EU Summit: Why was Poland isolated in opposing Tusk and the ‘multi speed’ Europe

Young people are not a nameless, faceless mass. So why do we treat them as such?

Reasons to hope and reasons to keep perspective on a vaccine

Gender equality within junior enterprises: the effect of President’s gender

Fair Taxation: EU updates list of non-cooperative tax jurisdictions

This is our chance to completely redefine the meaning of work

EU Facility for Refugees in Turkey: third annual report shows continued vital and tangible support for refugees and their host communities

Create conditions for ‘harmony between humankind and nature’, UN chief says on sidelines of G20 in Japan

How the future of computing can make or break the AI revolution

This project is turning abandoned fishing gear into volleyball nets

EU shapes its ambitious strategy on India

Draghi to lay his print on long term ECB policies prior to exiting next year

Eurozone: There is a remedy for regional convergence

“Working together to make a change at the COP 21 in Paris”, an article by Ambassador Yang of the Chinese Mission to EU

Energy: EU priority projects should be aligned with 2050 climate objectives

Brexit: Only Corbyn and May in concert can make the needed compromises

Latin America is a mass-transit powerhouse. But it needs fine-tuning

3 vital steps to a new gender equality playbook

IMF: The near-term outlook for the U.S. economy is one of strong growth and job creation

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s