EU to draw up next round of Russian sanctions

|By:, SA News Editor

EU leaders are planning to formulate options within a week for new sanctions against Russia, should Moscow not back down from its involvement in the Ukraine crisis.

"Should the situation stay as we see it today, or should there be further escalation, sanction in the areas the commission has looked at up until this point, such as on the energy and financial sector, will be heightened," says German Chancellor Angela Merkel.

Until 72 hours ago, EU leaders weren't expected to take any action against Russia. However, fresh news of rebel gains and a NATO warning that stated Russia had moved "well over 1,000 troops" across the border have prompted the EU to consider its next round of additional sanctions.

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