EU envoys back three-year extension of sanctions on Russia

Permanent representatives of European Union countries have agreed to extend sanctions against Russia covering around 3,000 individuals and legal entities for three years, while removing businessmen Alisher Usmanov and Mikhail Fridman from the list.

According to Report, citing Reuters, the agreement was reached after Latvia dropped its veto and abstained from the vote.

Previously, sanctions against listed Russian individuals and entities were renewed every six months. Sanctions decisions require unanimous approval from all EU member states.

EU representatives had earlier reached a preliminary agreement to remove Usmanov and Fridman from the sanctions list in exchange for extending the remaining restrictions for three years.