<\/p>\n
The leaders of the European Union have instructed the European Commission and the EU\u2019s diplomatic service to prepare further sanctions to be imposed on Russia, in reaction to its military action against Ukraine.<\/p>\n
Herman Van Rompuy, the president of the European Council, said the EU was ready to take \u201csignificant further steps in light of the evolution of the situation on the ground\u201d. He condemned the movement of Russian troops and weaponry into Ukraine. Angela Merkel, Germany\u2019s chancellor, said that sanctions would be imposed \u201cif the situation in the last days goes on\u201d. \u00a0Merkel also committed money to help rebuild the damaged infrastructure in Ukraine.<\/p>\n
The European Council adopted conclusions that called for a ceasefire and urged Russia to implement a peace plan prepared by Ukrainian president Petro Poroshenko, who attended the Council meeting.<\/p>\n
Van Rompuy denounced \u201cthe presence of Russian armed forces on Ukrainian soil\u201d. Jos\u00e9 Manuel Barroso, the president of the European Commission, said: \u201cWhat is happening in the eastern part of Ukraine is war.\u201d<\/p>\n
It is unclear whether the mooted sanctions will be an intensification of existing measures affecting exports in the military, energy and the financial sectors, or will extend into new economic sectors.<\/p>\n
The Council specifically instructed the Commission to include in its proposals a measure \u201con the basis of which every person and institution dealing with the separatists groups in the Donbass [region of eastern Ukraine] will be listed\u201d.<\/p>\n
Barroso said that at a meeting with Poroshenko he had said that the EU stood ready to provide \u201can additional \u20ac1 billion in loans to Ukraine\u201d.<\/p>\n
The EU leaders also discussed the worrying state of the European economy, in light of a very low level of inflation and extremely high unemployment. They agreed that the situation raises \u201csignificant concerns\u201d. \u00a0\u201cIn recent weeks economic data have confirmed that the recovery, particularly in the euro area, is weak,\u201d the conclusions state. The leaders agreed to hold a special summit on jobs and growth in Italy in early October, and a summit of government leaders from eurozone countries following the European Council in late October.<\/p>\n
Speaking after the Council, Hollande said the situation was unacceptable. \u201cThe diagnosis is unquestionable. It\u2019s a widespread situation, there are some countries in recession, and inflation has reached a historic low everywhere. Therefore there is a European problem, a lack of sufficient demand.\u201d<\/p>\n
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The leaders of the European Union have instructed the European Commission and the EU\u2019s diplomatic service to prepare further sanctions to be imposed on Russia, in reaction to its military action against Ukraine. Herman Van Rompuy, the president of … Continue reading