Handelsblatt Exclusive

Russian Sanctions Likely to Continue

Putin AP
Russian President Vladimir Putin is extremely unhappy with the economic sanctions.
  • Why it matters

    Why it matters

    The European Union hopes to pressure Russia into changing its course on Ukraine by extending its economic sanctions.

  • Facts

    Facts

    • The trade restrictions are scheduled to expire at the end of January next year.
    • A compromise under discussion is to extend the sanctions by six months.
    • Russian industrial production has declined by 2.8 percent, and GDP sank by 4.6 percent in the third quarter of 2015.
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    Audio

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The European Union appears unwilling to budge on its economic sanctions against Russia just yet.

A majority of European leaders want to extend the restrictions against the country by a further six months, when they meet next month at a European Union summit, Handelsblatt has learned from sources in Berlin and Brussels.

“There are no grounds for lifting the sanctions,” one source said.

The trade restrictions are scheduled to expire at the end of January next year. But while southern European member states lean toward lifting the sanctions, those in the east want to see the sanctions further tightened.

A compromise under discussion is to extend the sanctions by six months – an approach favored by German Chancellor Angela Merkel who would like to mend the damaged relations with a key trade partner, sources said.

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