EU prolongs Russian sectoral sanctions until July 2016

The Council of the EU announced in December that economic sanctions imposed by Europe on Russia would be extended until 31 July 2016.

The sanctions were originally imposed for period of twelve months in July 2014 and were extended until 31 January 2016 in June 2015.

Implementation incomplete

The EU also confirmed in June 2015 that the duration of the sanctions would be linked to the implementation of the Minsk agreements to halt the war in Ukraine.

In its most recent announcement, the council said that at the end of 2015, implementation of the agreements was incomplete.


This meant that the duration of EU sanctions imposed on Russia should be prolonged to allow the council to continue its assessment of progress in the implementation of the agreements.

The so-called sectoral sanctions imposed on Russia restrict certain activities, mainly in relation to the Russian energy sector and specified entities’ access to capital markets.

Categories: Trade Based Financial crimes News

Leave a Reply

%d bloggers like this: