Baltic States – CIS, EU – Baltic States, Legislation, Russia

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"The duration of economic sanctions will be clearly linked to the complete implementation of the Minsk agreement bearing in mind that this is only foreseen by the end of 2015," Tusk said at a press conference.

He also added that Brussels would be ready to take further sanctions action if necessary.

An official decision on whether to extend sanctions against Russia will be taken during the EU summit in June.

According to the diplomats, the agreement means that sanctions on Russia's financial, defense, and energy sectors will be kept in place until the end of the year. The agreement was formed together with German Chancellor Angela Merkel and French President Francois Hollande.

According to Reuters, there is a chance that economic sanctions on Russian and Ukrainian citizens could be lifted by the end of the year if the situation in eastern Ukraine improved.

As reported, in February 2014 Russia occupied the Crimean peninsula that belonged to Ukraine. In March, Crimea was annexed. Over the past several months, Russia has been backing a bloody separatist movement in Eastern Ukraine.

In response to Russia's aggression in Ukraine, the EU, the United States, and other Western countries have imposed sanctions against Russia's top officials, Kremlin associates, and Russia's financial, defense, and energy sectors.