MOSCOW, June 23 (Xinhua) -- The decision by the European Union (EU) to extend economic sanctions against Russia is a defeat for European diplomacy, Russia's upper house chairman Konstantin Kosachev said Thursday.

"It is another defeat for EU diplomacy in the Ukrainian direction ... Today's decision will not bring anything new," said Kosachev.

Kosachev accused the EU of succumbing to anti-Russian policy of Kiev, which sabotages the implementation of the Minsk agreements.

The EU leaders, during a two-day summit in Brussels on June 22 decided to extend the sanctions on Russia, which were initially imposed in 2014 over Ukraine conflict, targeting Russia's financial, energy and defense industries. The latest sanction will be due on July 31, 2017.