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2019-12-23 13:30:00

RUSSIA SANCTIONS EXTENDED

RUSSIA SANCTIONS EXTENDED

PLATTS - 19 Dec 2019 - The EU unanimously agreed to prolong financial, energy and other economic sanctions against Russia for its role in the conflict in Ukraine by six months to July 31 due to the lack of full implementation of the Minsk peace agreements, the EU Council said Thursday.

The extension comes a week after the peace talks attended by leaders of France, Germany, Russia, and Ukraine on December 9 in Paris. The decision was based on the report on the state of implementation of the Minsk agreements delivered by French President Emmanuel Macron and German Chancellor Angela Merkel.

The EU first imposed energy sanctions in July 2014 when it limited Russia 's access to European technology and services for developing Arctic, deepwater and unconventional oil resources.

The restrictive measures were strengthened in September 2014 to target Russia 's largest oil producer Rosneft, Gazprom oil subsidiary Gazprom Neft, and national pipeline operator Transneft, restricting the companies' access to EU capital markets.

EU sanctions normally expire after a year and can be reviewed and changed at any time if all 28 EU countries agree.

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Earlier:

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Tags: RUSSIA, SANCTIONS, UKRAINE