The European Union on Monday extended its sanctions against Russia until January 31, 2021.
Brussels imposed the restrictive measures in 2014 in response to Russia’s annexation of Crimea, which the EU, the UN General Assembly, and Turkey all view as illegal. Ukraine also blames Russia for separatist violence in eastern Ukraine.
The measures were extended due to Moscow’s reluctance to fully implement the Minsk agreement, which is meant to establish a ceasefire in Eastern Ukraine, the EU said.
The measures give some Russian banks and companies limited access to EU capital markets. They also prohibit the trade of all defense-related goods and sensitive technologies that can be used in the Russian energy sector.