Each time the European Union’s sanctions against Russia come up for renewal, there’s speculation that some countries might break ranks and vote against the trade and financing restrictions. There will probably be no deserters this time around either; but a softening of the sanctions is on the cards in the near future.
In December, the sanctions, which include travel bans and asset freezes for some Russian officials and friends of President Vladimir Putin, as well as more painful restrictions on debt market access for some big state-owned companies, were extended until July 31. Next month, the EU will consider a prolongation for another six months.
Formally, there is every reason for an automatic extension. The Minsk ceasefire agreement, which the EU demands Russia and Ukraine implement fully before lifting most of the sanctions, has stalled. There’s still daily fighting and the political terms — that Russia cede control of its border with Ukraine and end support for separatist people’s “republics” in eastern Ukraine, and that Ukraine pass legislation to make elections possible in rebel-held areas — are no closer to being met than they were 15 months ago.
Source: http://www.bloomberg.com/view/articles/2016-05-31/the-resolve-behind-russian-sanctions-is-weakening
