The European Union Foreign Ministers have reportedly extended the economic sanctions imposed on Russia until the end of January 2016.
A tweet posted by EU spokeswoman Maja Kocijancic said that the move was aimed at pressing Russia to abide by the Minsk ceasefire accord signed with Ukraine in February, reported the BBC.
The EU first imposed sanctions on Russia in the aftermath of the Kremlin’s annexation of Crimea in March 2014. They were then escalated because of Russia’s role in conflict-torn eastern Ukraine.
NATO claims that hundreds of Russian tanks, armoured vehicles and troops have entered East Ukraine, an allegation that Moscow has consistently denied.
The economic sanctions prevents Russian state banks from raising long-term loans and bans exports of dual-use equipment and future EU-Russia arms deals.