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EU Extends Economic Sanctions Against Russia

The European Union has extended its sanctions against Russia for another six months, the EU council press office reported Monday.

The new date for the sanctions lift is set on July 31, 2016, the EU council said.

“Since the Minsk agreements will not be fully implemented by Dec. 31, 2015, the duration of the sanctions has been prolonged whilst the Council continues its assessment of progress in implementation,” council's press-release said.

EU introduced its year-long economic sanctions against Russia on July 31, 2014 as a response to Russia's involvement in the conflict in East Ukraine.

Last spring, European leaders decided to leave sanctions in place until a peace deal in Ukraine is fully implemented through the Minsk negotiations process.

The sanctions imposed against Russia target the banking sector, defense and oil production technologies import, and introduce a blacklist of 150 individuals who are banned from entering EU and performing banking operations on its territory.

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