BRUSSELS - The European Union (EU) announced Monday that it has decided to extend economic sanctions against Russia until Jan. 31 of 2016 to ensure it fully implements Ukraine peace accords.

According to a press release issued by the Council of the EU, this move followed an agreement at the European Council in March, when EU leaders agreed in principle to roll the sanctions over by linking them directly to the ceasefire brokered by Paris and Berlin in Minsk that runs to December this year.

The restrictive measures, which were introduced in response to Russia's alleged "destabilizing role" in the Ukrainian crisis, were imposed in July 2014 and reinforced in September 2014.

The sanctions targeted certain exchanges with Russia in the financial, energy and defense sectors and dual-use goods.

Moscow has repeatedly denied related allegations, stressing that the concept of sanctions is counterproductive. (Xinhua)