Economic sanctions are extended by 6 months

The European Union has decided to extend economic sanctions against Russia for another 6 months. This will in turn lead to Russian sanctions on agricultural imports and continue to impact the European agricultural sector.

 

 

EU leaders have decided to renew the economic sanctions in force against Russia, for a further period of 6 additional months, until January 31, 2022. These sanctions concern the financial and banking sector, all material in connection with defense and certain technologies.

 

 

In response, Russia should also extend its import bans on European and Western agricultural products. This will continue to impact the European agricultural sector and in particular the fruit sector.

 

 

Initially introduced on July 31, 2014, European economic sanctions vis-à-vis Russia have been extended several times.