On July 1, the European Union formally agreed to extend its economic sanctions against Russia for another six months. The sanctions, which were imposed due to the ongoing conflict in Ukraine, were set to expire at the end of July, so they are now in effect through January 2017. More details are available in this European Council news release.

As a counter-measure, Russia extended its ban on the import of a range of food products from the EU, U.S., Canada, Australia, Norway and Ukraine through the end of 2017. However, Russian officials have stated that the import embargo could be lifted sooner if western nations bring an end to economic sanctions. More details on Russia’s decree are available from The Moscow Times.