EU Decides to extend Crimea & Sevastopol Sanctions Regime
On 17 June 2016, the EU decided to extend its sanctions policy regarding the ongoing crisis in Crimea and Sevastopol.
In its statement, the EU has decided to extend its restrictive measures until 27 June 2017. The measures apply to EU persons and EU based companies. They are limited to the territory of Crimea and Sevastopol. The sanctions include prohibitions on:
- imports of products originating in Crimea or Sevastopol into the EU;
- investment in Crimea or Sevastopol, meaning that no Europeans nor EU-based companies can buy real estate or entities in Crimea, finance Crimean companies or supply related services;
- tourism services in Crimea or Sevastopol, in particular, European cruise ships cannot call at ports in the Crimean peninsula, except in case of emergency;
- exports of certain goods and technologies to Crimean companies or for use in Crimea in the transport, telecommunications and energy sectors and related to the prospection, exploration and production of oil, gas and mineral resources. Technical assistance, brokering, construction or engineering services related to infrastructure in these sectors must not be provided either.
Links to EU measures
The EU is also set to decide whether to extend its sanctions against Russia, which are planned to expire at the end of July 2016.