EU to Impose Fresh Sanctions on Russia

Russia has reacted sharply Saturday, to reports of new sanctions against it from the European Union and has warned of consequences.

"As for the new list of sanctions from the European Union, if they are passed, there will undoubtedly be a reaction from our side," the Russian foreign ministry said in a statement, reports Agence France Press

The fresh sanctions were passed late on Friday but the EU said that they can be withheld if Moscow withdraws its troops from Ukraine and abides by the new ceasefire agreement between the rebels and Ukraine.

Moscow criticized the move strongly by saying that the ceasefire agreed on in Minsk, Belarus, was holding and the European nations were needlessly upsetting the fragile peace.

The foreign ministry spokesman of Russia said that the EU sanctions were a clear signal that they were siding with Kiev, which apparently was not happy with the peace agreement.

The new sanctions have expanded the economic sanction and increased the number of people whose assets have been frozen who have been banned from entering the 28 member countries of the EU

"If they (new sanctions) are implemented of course there will be a reaction from our side," the ministry said in a statement, reports Reuters.

"Instead of feverishly searching for ways to hurt the economies of its own countries and Russia, the European Union would do better to work on supporting the economic revival of the Donbass region"  the Russian government said, reports AFP.

These sanctions come just after the conclusion of the NATO summit in Wales where Ukraine figured on top of the agenda. The member nations have agreed on a Rapid Action Force to be deployed in the Baltic region to curb any further aggressive moves from Russia.