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The European Union extended economic sanctions on Russia

30. June 2020 - 11:56

Yesterday 29 June, the Council of the European Union decided to extend by six months, until 31 January 2021, the restrictive measures introduced in response to Russia’s destabilising actions against Ukraine. The decision follows a political decision made at the 19 June video meeting of the European Council to extend economic sanctions on Russia after an assessment of the state of the implementation of the Minsk agreements.

The sanctions target specific economic sectors not individuals. The economic sanctions extended with the decision:

  • restrict the access of five large Russian state-owned financial institutions and their majority-owned subsidiaries established outside the EU, as well as three major energy companies and three defence industry companies of the Russian Federation to EU primary and secondary capital markets;
  • impose an export and import ban on trade in arms;
  • establish an export ban for dual-use goods for military use or military end users in Russia;
  • curtail Russian access to certain sensitive technologies and services that can be used for oil production and exploration.

In 2014, the European Union imposed economic sanctions on Russia due to its destabilising actions against Ukraine. On 19 March 2015, the European Council aligned the duration of the sanctions to the full implementation of the Minsk agreements, foreseen for 31 December 2015. As this did not occur, the sanctions remain in force.

On 18 June, the Council of the European Union extended the sanctions introduced in response to the illegal annexation of Crimea and Sevastopol for a further year.

Read more:

Sanctions have also been introduced in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine:

More information about international sanctions and their implementation is available on the Foreign Ministry website and the EU Sanctions Map site

Additional information:

Ministry of Foreign Affairs of Estonia
Communication Department

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