EU extends Russian sectoral sanctions for 6 months

As indicated last Friday (see previous blog), the EU has extended its sectoral sanctions against Russia until 31 July 2016 to allow for further assessment of the implementation of the Minsk agreements, which the EU has said must be completed before sanctions are lifted.

The sanctions prohibit, inter alia, EU financial transactions with major Russian state banks, restrict access to EU capital markets for some Russian entities, bans the export to Russia of certain energy-exploration equipment, and prevent the sale of arms and some dual-use civilian goods to the country.  They were due to expire at the end of January 2016, and an informal agreement to extend them by 6-months was reached at the G20 summit in Turkey last month (see previous blog).

The extension is made by Council Decision (CFSP) 2015/2431 amending Council Decision 2014/512/CFSP.  All the EU’s sanctions on Russia are on the ‘sanctions in force’ section of this blog.

This entry was posted in Latest EU Measures, Russia by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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