Montenegro, Albania, Norway and Ukraine extend sanctions against Russia

Montenegro, Albania, Norway and Ukraine supported the EU’s proposal to extend sanctions against Russia until January 31, 2019, according to a statement by High Representative of the European Union for Foreign Affairs and Security Federica Mogherini, posted on the EU Council website.

"The Candidate Countries Montenegro and Albania, and the EFTA country Norway, member of the European Economic Area, as well as Ukraine, align themselves with this declaration. They will ensure that their national policies conform to this Council Decision. The European Union takes note of this commitment and welcomes it," the statement reads.

On July 5, the Council of the European Union decided to extend sectoral economic sanctions against Russia until January 31, 2019.

The EU restrictions apply to the financial and energy sectors of the Russian economy, the defense industry and the production of dual-use goods. Sanctions limit the ability of Russian companies operating in these industries to place their bonds in the EU financial markets and receive loans from European banks. They also restrict access of these companies to European technologies.

Sectoral sanctions against Russia were adopted in 2014 in response to the annexation of the Crimea and the conflict in the southeast of Ukraine. The EU also imposed sanctions against individual companies and Russian citizens.

  Montenegro, Norway, Albania, Ukraine, Sanctions on Russia