EU court rules Russia sanctions over Ukraine are valid

The European Union's top court has ruled that the bloc's economic sanctions on Russian companies over the crisis in Ukraine are valid.

The EU Court of Justice's decision Tuesday came in response to a legal challenge by Russian oil and gas giant Rosneft before a British court.

Rosneft wants to annul a decision by EU leaders in July 2014 to restrict certain financial transactions and sensitive exports imposed after Russia annexed Ukraine's Crimean Peninsula.

The Luxembourg-based ECJ said the "restrictive measures" adopted in response to the crisis in Ukraine against certain Russian undertakings, including Rosneft, are "valid."