MOSCOW (Sputnik) — On July 1, the Council of the European Union prolonged the economic sanctions targeting specific sectors of Russia's economy until January 31, 2017.
"[Estonian] business is unhappy with the continuation of sanctions against Russia. Prominent representatives of the Estonian business say that the restrictive measures cause direct harm to the Estonian economy. Last year, the [bilateral] turnover fell by more than 30 percent," Petrov told Izvestiya newspaper in an interview.
Since 2014, relations between Russia and the European Union deteriorated amid the crisis in Ukraine. Brussels, Washington and their allies have introduced several rounds of anti-Russia sanctions since Crimea became part of Russia in 2014 and over Moscow's alleged involvement in the Ukrainian conflict. Russia has repeatedly refuted the allegations, warning that the Western sanctions are counterproductive and undermine global stability.