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.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

“At the Environment Assembly citizens expect clean, not hot air”, the Head of UN Environment in Europe underscores in a Sting Exclusive

Congrats to the #FutureofMalta: a new age of voting

NEC @ MWC14: “Smart cities” hold the key to enhancing citizens’ lives and cutting costs

MARKUP initiative to boost market access to Europe for East African SMEs

Progress in medical research: leading or lagging behind?

Security: better access to data for border control and migration management

European Youth cries out: Sustainable Development Goals ambitious, but lack focus on youth

Juncker Investment Plan for Europe welcomed by European Youth Forum

A Sting Exclusive: “Delivering on the Environmental Dimension of the new Sustainable Development Agenda”, Ulf Björnholm underscores from UNEP Brussels

Junker for Commission President: What were the stakes in this affair

The German banks first to profit from public subsidies of trillions

EU: The Member States to pay for national banking problems

Rehn very reserved about growth in Eurozone

Young people meet in Malta to shape the future of Europe

Microsoft’s YouthSpark: a kiss of Life to European Youth from the European Parliament

How many more financial crises in the West can the world stand?

Is Germany yielding to pressures for more relaxed economic policies?

Has the EU economy truly revived from the financial crisis?

Chart of the day: These are the cities where the World Cup threatens productivity the most

The Tears of lovely Memories

Inegalitarian taxation on labour haunts Europe’s social model

Google once more under EU crossfire from a possible record fine and new Right to be forgotten case

A Sting Exclusive: “EU’s Sustainable Finance Action Plan – Laying down the foundations for a Greener Financial System”, by European Commission’s Vice-President Dombrovskis

Palm Oil: With Malaysia cracking down on production, what’s the alternative?

This team of Saudi women designed an award-winning app to make the Hajj safer

Medical students: The need for emigration

Women-Friendly Spaces for Rohingya refugees: A place for protection and care

UN condemns attack that leaves one ‘blue helmet’ dead in Central African Republic

Nigeria floods: Guterres ‘deeply saddened’ by loss of life and rising need

Foreign Affairs Council (Trade) of 22/05/2018: EU relations with key trading partners

Three ways the Fourth Industrial Revolution is shaping geopolitics

The quality of health education around the globe

G20 LIVE: the EU trade gold rush continues as EU and Australia agree to launch Free Trade Agreement (FTA) live from Antalya Turkey

MEPs condemn attacks on civilians, including children, in Yemen

Walk, cycle, dance and play – UN health agency recommends new action plan for good health

Global immunization is having its annual check-up. What can we learn?

MEPs demand an end to migrant deaths across the Mediterranean Sea

Charles Michel advocates a strong Europe that acts where it can add real value

Europe united in not supporting a US attack on Syria

‘I thought I’d never get out alive’ – the Muslim director who interviewed neo-Nazis

COP21 Breaking News_07 December: “The world is expecting more from you than half-measures”, UN Secretary General Bank Ki-moon cries out from Paris

After the Italian ‘no’ and the Brexit, Germans must decide which Europe they want

UN chief urges Hamas and Israel to ‘step back from the brink of another devastating conflict’ in Gaza

Berlin to pay at the end for Eurozone banks’ consolidation

End of plastic water bottles at European Parliament

The 13th round of TTIP negotiations hits a wall of intense protests and growing concerns

More taxpayers’ money for the banks

Parallel downfalls of Merkel and Deutsche Bank threaten Germany and Europe

Italy’s Letta: A European Banking Union soon or Eurozone collapses

No recovery for EU economy in sight and a Brexit can aggravate things for everyone

Bias in AI is a real problem. Here’s what we should do about it

Varna (Bulgaria) awarded European Youth Capital 2017

‘True’ peace, requires standing up for human rights, says UN chief Guterres

UN rights office appeals for peaceful Zimbabwe elections amid reports of intimidation

EU’s Mogherini visits Turkey “to step up engagement” and highlight interests

Far from a healthy Health Workforce: lack of workforce planning leaves our citizens without access to proper care

Service Engineer Intern – 1991

The ECB will do whatever it takes to set the Eurozone economy again in motion

Cameron’s Conservatives and UKIP are exploiting and cultivating anti-EU immigration sentiment but Labour party isn’t?

The EU can afford to invest trillions in support of employment

More Stings?

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