Start making sense of your financial wellness.

Watch the Sitholes every Thursday at 17h30 on e.tv

EU slaps initial sanctions on Russia

Comment on this story


iol news pic mar6 CRIMEA CMW15_UKRAINE-CRISIS-_0305_11

REUTERS

Uniformed men, believed to be Russian servicemen, march outside a Ukrainian military base in the village of Perevalnoye, outside Simferopol. REUTERS/Vasily Fedosenko

Brussels - The European Union suspended talks with Russia on a wide-ranging economic pact and on a visa deal Thursday, punishing Moscow for its military incursion into the Crimean Peninsula of Ukraine.

EU leaders made the announcement at an emergency summit and threatened further sanctions if Russia does not quickly engage in talks to end the crisis.

The move in Brussels came on the heels of sanctions by the Obama administration in Washington, D.C., which imposed visa restrictions on pro-Russian opponents of the new Ukrainian government in Kiev, also clearing the way for financial sanctions.

The sanctions on both side of the Atlantic aimed to rein in Europe's gravest geopolitical crisis in a generation.

Van Rompuy called the Ukraine crisis the “most serious challenge to security on our continent since the Balkan wars” of the 1990s.

The EU put on ice talks on a wide-ranging economic agreement and on granting Russian citizens visa-free travel within the 28-nation bloc, a goal that Moscow has been pursuing for years.

The decision followed tough negotiations between member states divided over how to react to the Russian aggression.

“Not everyone will be satisfied with the decision but I should say that we did much more together than one could have expected several hours ago,” said Polish Prime Minister Donald Tusk.

He stressed that further sanctions will kick in in the coming days unless Russia stops its “aggressive steps” on the Crimean peninsula and engages in a meaningful dialogue to defuse the crisis.

Tusk said there was “no enthusiasm” in Europe on sanctioning Russia, but he called the moves inevitable given the country's blatant violation of international rights by its actions in Crimea.

Sapa-AP


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks

Business Directory