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EU extends sanctions against Russia over Ukraine

The EU extended economic sanctions against Russia for six more months on Monday, accusing Moscow of destabilizing the situation in Ukraine.

"The Council decision follows the latest assessment of the state of implementation of the Minsk agreements - initially foreseen to happen by 31 December 2015 - at the European Council of 24-25 June 2021," the European Council said in a statement.

"On that occasion, EU leaders called on Russia to fully assume its responsibility in ensuring the full implementation of the Minsk agreements as the key condition for any substantial change in the EU's stance," the statement read.

"In light of the fact that these agreements are not fully implemented by Russia, EU leaders unanimously decided to roll-over the economic sanctions in place against the country," the statement added.

The sanctions that were first introduced in 2014 in response to "Russia's actions destabilising the situation in Ukraine," are now renewed until Jan. 31, 2022.

The economic sanctions limit Russian access to EU primary and secondary capital markets and also prohibit forms of financial assistance and brokering towards Russian financial institutions, as well as further curtailing Russian access to technologies in oil production and exploration, according to the statement.


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