SIMFEROPOL, June 11. /TASS/. The European Union’s move to extend sanctions on Crimea highlights the hypocrisy of EU officials because many European investors are active in the region, said Russian State Duma (the lower house of parliament) member Andrei Kozenko, who represents Crimea.

On Wednesday, the 27 countries of the European Union agreed to extend sanctions against Crimea and the city of Sevastopol for another year, a source in the Council of the European Union told TASS earlier. According to the source, the council will formally approve the decision next week and it will enter into force after publication in the EU Official Journal.

"The ban on EU investment in Crimea is mere hypocrisy," Kozenko pointed out, adding that "despite sanctions, Crimea continues to attract investors from many countries, including European ones." According to the lawmaker, over 3,350 economic entities founded by businessmen from 60 countries are registered in Crimea. Efforts are underway to implement 182 projects involving a total investment of about 150 bln rubles ($2.2 bln).

Member of the Russian Federation Council (the upper house of parliament) Olga Kovitidi believes that the decision to extend sanctions is first and foremost harmful to the EU. She emphasized the need for the EU "to move to mutually beneficial trade with Russia, remove the disgraceful sanctions and launch a real fight against the coronavirus pandemic," she told TASS. Kovitidi pointed out that Crimea would welcome tourists from EU countries if sanctions were lifted. "However, people in EU countries, who are tired of lockdowns and the coronavirus pandemic, have to face a contrived political agenda and a new round of cold war against Russia," the senator noted.