Russian sanctions: The European Union yesterday resolved to extend the ban on its members conducting business with Russia for another 12 months until June 23. Brussels is also expected to use a meeting of EU ambassadorson Tuesday to also extend a wider ban until the end of the year.
The ban prohibits:
- The importation into the EU of products made in Crimea and Sevastopol
- Investments in Crimea and Sevastopol, including real estate, businesses and financial services companies
- Supporting the peninsula’s tourism sector, effectively stopping European cruise ships docking in any of its ports
- The export of a range of products and technologies to the Crimean business community or which are meant for use in the transport, telecommunications and energy sectors, including in the the exploration, exploitation and production of oil, gas and mineral products
- The provision of technical assistance or brokering services and services for the construction of engineering structures and infrastructures in these sectors
The announcement was posted on the EU website and comes a day after EU President Jean-Claude Juncker held one-on-one talks with Russian president Vladimir Putin at the SPIEF business forum in St Petersburg. Ahead of the meeting, he insisted that sanctions would only be lifted when Russia complied with last year’s Minsk agreement which called for an immediate and full bilateral ceasefire in eastern Ukraine and the withdrawal of all heavy weapons by both sides.