BOFIT Viikkokatsaus / BOFIT Weekly Review 2017/27
The EU Commission decided on June 28 to keep economic sanctions targeting specific sectors in place until January 31, 2018. The sanctions, imposed on Russia for its actions in the Ukraine conflict, were extended for the lack of full implementation of the Minsk agreements. The EU sanctions limit the access of certain Russian firms to financing and restrict exports of technology related to oil production and dual-use goods from EU to Russia. In addition, the sanctions prohibit arms trade with Russia.
On June 30, president Putin signed a decree extending Russian countersanctions on certain Western foods to the end of 2018.