EU is to extend sanctions against Russia

The European Union is considering various options for extending the sanctions regime against Russia, in particular, blocking Russian assets. The purpose of such an extension is to ensure the allocation of loans to Ukraine for $50 billion at the expense of these assets.

The European Commission has proposed several options: extending the asset freeze for 36 months, extending the lock for 5 years each time, or extending both sectoral sanctions and asset freezes for 36 months. The permanent representatives of the EU countries consider the most realistic extension of the term of sanctions on assets for 3 years.

Hungary, which currently holds the presidency of the EU Council, has not yet expressed its position on this issue. The European Commission may provide more detailed information on possible changes to the sanctions regime as early as September 16.

Recall that the EU has already begun transferring income from Russia's frozen assets to Ukraine and countries supplying Kiev with weapons.  In June, the participants of the G7 summit in Italy agreed that the proceeds from the frozen assets of the Russian Federation will be used to help Ukraine in the form of loans worth $50 billion by the end of the year.