The EU’s decision to extend sanctions against Russia entered into force

Extended European sanctions against financial, energy and defense sectors of the Russian economy.

The European Union’s decision on the extension of sectoral sanctions against Putin’s Russia entered into force. A statement published in the official journal of the EU.

28 June 2017, the European Union unanimously formalized in written form the extension of sectoral sanctions against Russia until 31 January 2018. Thus Europe reacts in response to Russia’s actions destabilizing the situation in Ukraine and the fulfillment of the Minsk agreements.

The sanctions are aimed at the financial, energy and defense sectors, as well as the scope of dual-use goods.

7 Mar 2014 the United States introduced the first restrictive list of high-ranking Russian and Ukrainian politicians, who are banned from entering the territory of the United States, and their finances and property are locked while in American jurisdiction.

The sanctions imposed 41 countries: EU, USA, Canada, Japan, Norway, Switzerland, Australia, New Zealand, Ukraine, and the parliamentary Assembly of the Council of Europe and informal China. The purpose of sanctions is to stop funding, arming and supply of Russian terrorists in Eastern Ukraine.

It was assumed that the sanctions will be introduced in stages: the first stage is the limit of cooperation; the second is restrictions on the supply of certain types of technology; third, sectoral sanctions against specific sectors of Russian economy.

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