EU-Russia: Lengthens Sanctions and Blow Boomeranging

Economic sanctions imposed on Russia by the conflict over Ukraine will be extended for another six months

By: Juventud Rebelde


2016-07-02 | 17:26:09 EST
Farmers affected by the sanctions with Russia crossing the street thrown away rotten fruit.Farmers affected by the sanctions with Russia crossing the street thrown away rotten fruit. Photo: sputniknews.comZoom

BRUSSELS, July 1ro.- The European Union (EU) decided on Friday to extend for six months, until 31 January 2017, the economic sanctions imposed on Russia in July 2014 following differences between the block and Moscow around the conflict in Ukraine.

According to Notimex, the European authorities will now discuss whether to extend sanctions against 146 individuals and 37 Russian companies for "their involvement" in the Ukrainian crisis, which expire on September 15.

From Moscow, the EFE agency collects warning by Russia that the EU risks losing forever its positions in the Russian markets, occupied both by domestic producers and by other countries.

"Under the diversification of our economic policy, the EU risks losing definitively a number of important sectors of the Russian market", said the statement released by the Russian Ministry of Foreign Affairs after learning of the decision of the Twenty-eight.

European sanctions "have a negative effect on the economic situation in Europe," added the Russian Foreign Ministry, which believes that "by yielding to the harsh pressures (US), Brussels is punishing first their own producers."

Moscow recalled that the slowdown in economic growth rates and loss of jobs as a result of the policy of EU sanctions against Russia is certified by reports from the European Parliament.

Despite the negative impact of sanctions, the Russian economy is getting some revenues by reducing their financial, economic and technological dependence on countries of the Union, the statement said.

On Wednesday, Russian President Vladimir Putin announced the extension of Russian contrasanciones to the EU, which prohibit the import of all perishable foods from the countries of the Union.

The European list of banned products includes fruits and vegetables, meat, fish and dairy products. The measure of Moscow, unlike Europe, spans a year and a half, until the end of 2017.

Translated by ESTI

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