Source: EU permanent representatives agree to extend economic sanctions against Russia
BRUSSELS, January 25 – RIA Novosti. An EU source told RIA Novosti that the permanent representatives of EU member states, at a meeting in Brussels on Wednesday, agreed on a planned extension of the economic sanctions imposed on Russia due to the situation in Ukraine.
“Sanctions have been agreed upon. This decision must be approved by the European Council before it can be issued,” the source said.
The economic sanctions were extended for another six months. The next extension will therefore be valid until 31 July 2023.
The EU’s economic sanctions, in effect since 2014, target the finance, energy and defense sectors in Russia. Initially, these sanctions were implemented by the European Union for one year on 31 July 2014. In March 2015, the duration of the sanctions was attributed to the “full implementation of the Minsk agreements”. Since then, the restrictions have been extended every six months. Moscow took retaliatory measures, turned to import substitution, and repeatedly stated that speaking to it in the language of sanctions would be counterproductive.
Following the start of Russia’s special operation in Ukraine, EU countries significantly expanded sanctions against the Russian Federation. Nine sanctions packages have been adopted so far. Russian President Vladimir Putin said that the policy of containing and weakening Russia is a long-term strategy of the West and that the sanctions have dealt a serious blow to the entire world economy.
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