brussels - The European Union officially extended the economic sanctions against Russia by six months until 31 January 2018. These have been agreed by the Member States after the German Chancellor Angela Merkel and French President Emmanuel Macron had spoken to the EU leaders last week at a summit in Brussels About the state of affairs in Ukraine.
The penalties were instituted because of Russian interference in eastern Ukraine in 2014. The sanctions are linked to the terms of the Minsk agreement, including the withdrawal of troops and heavy weapons. There are still no competing parties yet.
Therefore, the blacklisted EU funds remain frozen and their travel ban to the EU remains in force. The European capital market remains close for a number of Russian banks and energy and defense companies. The export of technically sensitive goods to Russia remains limited.