The European Union shied away from imposing the new economic sanctions on Russia right away over its actions in eastern Ukraine. Instead, the 28-nation bloc said the punitive measures will come into force “in the next few days,” depending on how well the cease-fire agreement in eastern Ukraine holds.
European Council President Herman Van Rompuy said in a statement delaying the sanctions would leave time for “an assessment of the implementation of the cease-fire agreement and the peace plan.”
“Depending on the situation on the ground, the EU stands ready to review the agreed sanctions in whole or in part,” Van Rompuy said.
Ukraine, Russia and the Kremlin-backed separatists agreed Friday to an immediate cease-fire and an exchange of prisoners. While the truce appeared to hold on Monday, the agreement seemed fragile over the weekend when occasional fighting occurred.
The E.U. sanctions are expected to be coordinated with a new round of U.S. sanctions, a Western diplomat said. The U.S. sanctions are ready for release, the diplomat said, but the Obama administration wants to wait to act in concert with Europe in order to maximize the impact of the sanctions and present a united front against Russia.
If and when the new sanctions do take affect Russia has threatened to retaliate by banning E.U. flights from its airspace, a move that would cost both Russia and the European Union further economic pain. CCTV’s Jack Barton reports.
EU delays Russia sanctions amid economy concernsThe European Union on Monday shied away from slapping new economic sanctions on Russia right away over its actions in eastern Ukraine. Instead, the 28-nation bloc said the punitive measures will come into force "in the next few days" depending on how well the cease-fire agreement in eastern Ukraine will be upheld.
Russia is ready with a swift reaction should the new round of E.U. sanctions be imposed. CCTV’s Tom Barton reports from Moscow.
Russia may impose sanctions on foreign airlinesRussia is ready with a swift reaction. Should the new round of E.U. sanctions be imposed? CCTV's Tom Barton reports from Moscow.
Anthony Salvia joins the show. He is the Executive Director for the American Institute in Ukraine.
Ukraine crisis: Truce holds despite overnight shellingAnthony Salvia in New York City joins the show. He is the Executive Director for the American Institute in Ukraine.
Story compiled with information from the Associated Press.