Brussels: The European Union finally agreed on Tuesday to impose broad economic sanctions against Russia, hoping to force Moscow to reverse course in Ukraine, EU officials said.
The new measures impose restrictions on the finance, defence and energy sectors so as to increase the cost to Russia of its continued intervention and support of pro-Moscow rebels in Ukraine.
“A political accord has been reached on the package of economic sanctions,” an EU official said, after the 28 member state ambassadors met for most of the day.
Up to now, the European Union has imposed asset freezes and visa bans targeted at people and entities — firms, utilities or local authorities — it believes to have stoked the Ukraine crisis or profited from it.
Many EU countries, among them Germany and Italy, have major economic ties with Russia, which also supplies the bloc with a third of its gas needs, making it difficult for Brussels to follow Washington's lead and adopt more punishing sanctions on Moscow.
