EU continues to extend economic sanctions against Russia

     According to the announcement issued by the European Council on the same day, during the EU summit on December 16, 2021, the leaders of EU Member States assessed the implementation of the Minsk agreement, found that the Minsk agreement had not been fully implemented, and decided to continue to extend the economic sanctions against Russia.

    In July 2014, the EU began to impose economic sanctions on Russia on the grounds of "undermining the stability of eastern Ukraine", which has lasted for seven and a half years. At present, it is mainly aimed at Russia's financial, defense, dual-use products and energy fields.

    In terms of financial sanctions, the EU restricts Russian energy enterprises, defense enterprises, state-owned financial institutions and their holding subsidiaries established outside the EU from entering the primary and secondary markets of the EU capital market; It is prohibited to provide financial support and intermediary services to Russian financial institutions.

    At the same time, the EU prohibits the import, export or transfer of any defense materials to Russia directly or indirectly, and the export of dual-use products for military purposes to Russia; Restrict Russia's access to sensitive technologies in the field of energy, such as sensitive technologies in the field of oil exploration and production.

    Since 2015, the EU has linked the duration of sanctions against Russia to the implementation of the Minsk agreement, and then repeatedly extended sanctions on the grounds that the Minsk agreement has not been fully implemented.

    In addition to economic sanctions, the EU also imposed sanctions on Russian individuals and entities, prohibited them from entering the EU and frozen their property within the jurisdiction of the EU, and imposed economic sanctions on Crimea and Sevastopol on the grounds of Russia's "illegal annexation" of Crimea and Sevastopol.

   In response to EU economic sanctions, Russia has taken countermeasures such as restricting the import of EU agricultural products, and has repeatedly stressed that Russia is not a participant in the conflict in Ukraine or the main body of the Minsk agreement. The EU has repeatedly talked with Russia in the "sanctions language", which will only backfire.