EU leaders agree to extend sanctions on Russia

russia-1-kremlinEU leaders have agreed to renew its sectorial sanctions on Russia for 6 months; they were due to expire on 31 January 2017.  These ‘phase 3’ EU sanctions were introduced on 31 July 2014, and target Russia’s financial, energy, and defence sectors and restrict trade in dual-use goods and Russian banks’ access to EU capital markets. These measures are expected to be formally renewed next week.  For the EU’s agreement with the US on extending Russia sanctions in November see previous blog.

Update: The EU has now formally renewed the sanctions until 31 July 2017.  See Decision (CFSP) 2016/2315 amending Decision 2014/512/CFSP.

This entry was posted in Russia, Ukraine 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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