Bloomberg found out about the plans of the EU to extend sanctions against Russia

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EU sanctions against Russia will likely be extended for six months. The reason is that the main condition for their withdrawal–the observance of the Minsk agreements — is still not implemented

EU sanctions against Russia, which expire 31 January 2017, likely to be extended for six months, reports Bloomberg with reference to five European officials familiar with discussions on this issue. Another EU official, in conversation with Bloomberg ruled out any other scenario.

According to interlocutors of Agency, the reason for the extension of the sanctions that the main condition for their withdrawal — the implementation of the Minsk agreements on Ukraine — have still not been implemented.

Last week, November 18, following the meeting of U.S. President Barack Obama in Berlin with the leaders of the countries of the European Union, the parties came to a consensus that sanctions against Russia should be maintained until the full implementation of the Minsk agreements.

Prime Minister of Russia Dmitry Medvedev, speaking on November 18 at the world grain forum in Sochi was stressed that sanctions against Russia “while nobody cancels, I don’t know. In General, when they will be cancelled”.

Sanctions against Russian companies, politicians and bureaucrats was imposed by the EU in March 2014, after the annexation of Crimea to Russia. Under the terms of the sanction a number of Russian politicians and officials are banned entry to the EU. Furthermore, Russian credit institutions (Sberbank, VTB, Rosselkhozbank, Vnesheconombank, Gazprombank) is forbidden to raise funds in European markets. The sanctions also include a ban for European business in cooperation with Russian companies in the defense (“Almaz-Antey” concern “Kalashnikov”) and the energy sector.

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