In early July 2016, the EU extended the economic sanctions targeting the financial, energy and defense industries of the Russian economy, as well as dual-use goods, until Jan. 31, 2017. These sanctions were prolonged because the European Council determined that the Minsk agreements concerning military activity in the Donetsk and Luhansk regions of Ukraine have not been respected. This GT Alert provides for an update and an overview of the EU various sanctions against Russia and the Crimea and Sevastopol regions.
On July 1, 2016, the EU economic sanctions that target the financial, energy and defense industries of Russia, as well as dual-use goods, were prolonged until Jan.31, 2017. The sanctions were extended because the European Council determined that the Minsk agreements concerning a ceasefire to restore peace and the sovereign integrity of Ukraine’s state borders had not been respected. The EU Council, however, adopted and extended the sanctions on a unanimous basis, insisting that the Minsk agreements must be implemented completely.