European Union Agrees To Introduce New Sanctions On Russia

| By JUERGEN BAETZ
Posted: 09/11/2014 8:14 am EDT

BRUSSELS (AP) — The European Union has decided to slap new economic sanctions on Russia over its actions in Ukraine, diplomats said Thursday.

The sanctions will further curb access to European capital markets for Russian firms and banks, limit exports of certain high-technology goods and target several officials with travel bans and asset freezes, diplomats told The Associated Press in Brussels.

The sanctions will take effect Friday following their publication in the EU's official journal but will be reversible if the situation in eastern Ukraine improves, four diplomats said independently. They spoke on condition of anonymity pending the official announcement.

A summit of EU leaders almost two weeks ago called for the new sanctions to be finalized, but they were then twice postponed to assess the impact of a cease-fire in eastern Ukraine. The United States previously said it was also considering new sanctions once the EU moves forward, and could now take that step as early as Thursday.

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