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Christmas in Moscow. 'The purchasing power of Russian consumers is in continuous decline,' Raiffeisen bank said (Photo: Alex F)

EU states agree six-month Russia sanctions

EU states’ ambassadors in Brussels on Friday (18 December) agreed to extend Russia economic sanctions for six months, despite an earlier obstruction by Italy.

EU capitals will ratify the decision by written procedure on Monday. The act will become legally binding the next day, when it's published in the bloc's Official Journal.

Ambassadors agreed the point without discussion shortly after an EU summit, in which Italian PM Matteo Renzi briefly raised the subject.

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Christmas in Moscow. 'The purchasing power of Russian consumers is in continuous decline,' Raiffeisen bank said (Photo: Alex F)

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