EU leaders agree to extend anti-Russia sanctions for six months
The European Union (EU) member states have agreed to a six-month extension of the bloc’s sanctions against Russia over the Ukrainian crisis.
The decision, which came on Friday during a summit in Brussels, will become finalized on Monday if no objection in writing is raised by any of the bloc’s member countries.
The sanctions, effective next January, will target the Russian energy, banking and military sectors until July 2016.
The EU imposed the anti-Russia sanctions in 2014 over Russia’s alleged involvement in the Ukrainian crisis. A conflict erupted in eastern Ukraine following the overthrow of the country’s former President Viktor Yanukovych in February 2014. Moscow denies having a hand in the conflict.
EU leaders in Brussels stuck to the position to renew the sanctions until the full implementation of a truce deal between Kiev and the pro-Russia forces in eastern Ukraine.
Italy has moved to block a formal decision on extending the anti-Russia sanctions last week.
During a Wednesday closed-door meeting of delegates from EU countries, Italy’s representative raised objections to the automatic extension of the sanctions. The incident forced EU governments to discuss the issue at a higher level in the Friday summit.
During the Friday summit, some EU leaders complained that Germany backed a plan to continue building the Nord Stream gas pipeline. The project would allow transfer of an extra 55 billion cubic meters of gas via the Baltic Sea to northern Germany, bypassing Ukraine.
The financially-strapped Ukrainian government currently draws about $2 billion per year in transit fees for Russian gas. The EU leaders argue the pipeline project would further harm Ukraine’s economy.
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