The European Union has extended for another year some of its sanctions targeting Russia over its annexation of the Crimean peninsula.

For two years, the 28-nation EU has imposed ever more punitive measures on Russia to protest what it calls "the illegal annexation of Crimea and deliberate destabilization of Ukraine."

The sanctions target imports from the peninsula and investment there, among other measures.

The announcement came one day after EU Commission President Jean-Claude Juncker met with Russian President Vladimir Putin in St. Petersburg.

After the EU first imposed sanctions two years ago, Moscow retaliated by banning imports of meat, vegetable and dairy products from the EU, a blow to many of the bloc's members.