EU Foreign Ministers Confirm Russian Sanctions Extended For 6 Months

EU foreign ministers have, as expected, confirmed the extension of various sanctions on the Russian gov't and Russian firms operating in the EU.

• The sanctions have been extended to 31 January 2022, with anEU Council statementsaying that the "...decision follows the latest assessment of the state of implementation of the Minsk agreements [...] at the European Council of 24-25 June 2021. On that occasion EU leaders called on Russia to fully assume its responsibility in ensuring the full implementation of the Minsk agreements as the key condition for any substantial change in the EU's stance. In light of the fact that these agreements are not fully implemented by Russia, EU leaders unanimously decided to roll-over the economic sanctions in place against the country."
• The sanctions restrict certain Russian access to EU primary and secondary capital markets, while limiting the ability for EU firms to provide financial assistance and brokering towards Russian financial institutions.