Sanctions on Russia

EU ambassadors have agreed to extend sanctions imposed on Russia for a further 6 months to January 31^st 2017, but this still needs to be approved by Ministers in the EU Council.  In addition France, UK and Sweden have asked to have time to consult their Parliaments.  A decision is not expected until the beginning of July.  Economic restrictions were put in place following the illegal annexation of Crimea by Russia back in 2014.  Some in the EU had hoped sanctions may be eased, as in retaliation, Russia has placed an import ban on some products from the EU, US, Canada and Australia.  This includes imports of dairy, pork, beef, poultry and vegetables, which has contributed to the fall in prices for these products, particularly dairy and pork.  An end to the sanctions has been tied to Russia’s fulfillment of the Minsk Peace agreement, which has not been fully implemented.  The Council of Ministers agreed on 17t^h June to extend, for a year, a different set of sanctions targeting the Crimea Peninsula, which was annexed by Russia in early 2014.