Eu Leaders: Sanctions and Russian Economy

eu leaders: The Council prolonged the economic sanctions targeting specific sectors of the Russian economy until 31 July 2017, said the statement from the council, according to Global Times China. The sanctions target the financial, energy, and defence sectors and items that could be used for both industrial and military means. EU leaders decided at a summit last week to roll over the sanctions first imposed in 2014 and the European Council, which groups the 28 member states, confirmed the decision on Monday. German Chancellor Angela Merkel and French President Francois Hollande said last week they wanted the sanctions extended because Moscow was not living up to its Ukraine truce commitments. The EU imposed economic sanctions on Russia after a Malaysia Airlines passenger jet was shot down over rebel-held eastern Ukraine in July 2014. They said there had been no progress in implementing the Minsk ceasefire accords which they helped broker between Ukraine and Russia, and so there was no option but to keep the measures in place. (news.financializer.com). As reported in the news.