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EU to decide on extension of economic sanctions against Russia at June summit — source

Thursday 17/May/2018 - 03:34 PM
Sada El Balad
Edited by Sada Elbalad
The European Union will take a political decision on extension of economic sanctions against Russia at its summit on June 28-29، a source in the EU Council told TASS on Thursday according to TASS.

"The political decision will be made at the summit in June، followed by actual decision in several days،" the source said. The EU Council will formally approve the decision after the political decision is taken. Then it will be published and come into effect.

No tacit extension of sanctions will be made، the diplomat said. "Tacit prolongation does not apply anymore. A discussion is held each time. It is true that recent discussions were short and I do not expect a long discussion this time،" he added.

The European Union imposed several sanctions packages against Moscow: economic sanctions، individual restrictions and Crimea-related sanctions.

Sectoral sanctions were initially levied on July 31، 2014، and covered financial، energy and defense sectors، as well as dual-use goods. Economic sanctions include restricted access to EU’s primary and secondary capital markets for five Russian financial institutions and their subsidiaries founded outside the European Union، in which the state holds a majority stake، as well as for three biggest Russian energy companies and three defense firms.

They also include embargoed weapons trade and ban on exports of dual-use goods for military purposes to Russia، as well as restricted access to certain strategic technologies and services that may be used for oil exploration and production، for Russia.

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