Overview
On October 24, the EU announced that Liechtenstein, Norway, Montenegro, Albania, and Ukraine would renew sanctions against Russia in alignment with current EU policy. As we have previously discussed, the EU prolonged restrictive measures against Russia in September, after determining that the situation in Ukraine did not merit a change in sanctions policy. The asset freeze and a travel ban against 146 persons and 37 entities were first implemented in 2014 as a response to Russia’s “actions against Ukraine’s territorial integrity, sovereignty and independence.” The sanctions will now extend through March 2017, unless otherwise amended. Depending on EU policy and Russia’s implementation of the Minsk agreements, which stipulate terms for halting the conflict in Ukraine, the measures could be extended again. It would be reasonable to expect Liechtenstein, Norway, Montenegro, Albania, and Ukraine to remain aligned with EU sanctions against Russia going forward. Liechtenstein and Norway, while not EU member states, form part of the the European Economic Area which allows them access to the EU’s single market, while Montenegro and Albania currently are candidates for EU accession. Ukraine’s interest in maintaining sanctions requires no explanation.
