The European Union extended sanctions on Russia by six months on Wednesday, maintaining restrictions on business with Russian energy, defense and financial sectors.
The formal extension of the sanctions was passed unanimously by the Council of the EU. As a result of the measures, European businesses cannot borrow or lend money to Russia’s five main state-owned banks for more than 30 days, limiting Moscow’s ability to raise capital. The sanctions also include an export and import ban on arms sales and limit Russia’s access to technology that can be used for oil production.
EU leaders decided to extend the sanctions after French …read more
Source: European Voice
