Russia: The chances of the softening of sanctions will happen only in March

Today, the European Union will hold a formal revision of the sanctions imposed on Russia. According to the sources of the Kommersant, we shouldn’t expect any mitigating of the restrictive measures in the structures of the EU, despite the improvement of the situation in the Ukraine, The sanctions are likely to be fully operational until mid-March 2015. According to the Kommersant’s information, Italy, which presides in the EU, tried to raise the issue of speeding up the review of the restrictions, but its proposal was blocked. In these conditions, it was decided not to carry out traditional summit of Russia – the EU this winter.

Today, at the meeting of the Committee of Permanent Representatives to the EU states in Brussels (COREPER) the EU sanctions against Russia will be reassessed. Let’s recall, from March 17, the EU adopted a nine packages of the sanctions against Russia. Personal restrictions affected 119 individuals and 23 entities, moreover, the restrictive measures against Russian energy, financial and defense sectors were introduced.