The European Union was set Tuesday to consider
imposing economic sanctions against Russia, amid an international
effort to turn up the heat on Moscow for its actions in Ukraine, according to dpa.
EU has already hit individuals, companies and other entities with
such measures, but had steered clear of targeting whole sectors of
the Russian economy amid fears of the fallout for its own finances.
Many EU countries have close business and trade ties with Moscow.
But the downing of a Malaysia Airlines plane with 298 people on
board, which has been blamed on Moscow-backed separatists, helped tip
the scales. The EU has issued several new round of sanctions over the
last week, with the economic sanctions set to be the toughest so far.
They would target Russian banks' access to European capital markets
and hamper Moscow's imports of weapons, high-tech products and
technologies needed for oil production.
European Commission President Jose Manuel Barroso called the measures
'effective, well-targeted and balanced,' after his institution
drafted them on Friday. EU capitals have been asked to empower their
ambassadors to make the final decision on the package on Tuesday.
'These measures are not an end in themselves, but a means to achieve
a negotiated and political solution to the crisis,' Barroso had said.
The leaders of the United States, Germany, France, Britain and Italy
had expressed regret on Monday over the fact that Russia had not
'exerted pressure on the separatists in order to get them to
negotiate,' the French presidency said following a joint phone call.
All five countries confirmed their intention to 'adopt new measures
against Russia.' Japan has also said it is stepping up its sanctions.
The diplomatic maneuvering comes as Dutch and Australian police
officers have repeatedly tried to reach the wreckage of the Malaysia
Airlines MH17 flight to secure the debris and collect remaining
bodies - so far unsuccessfully because of fighting in the area.
The group of some 50 unarmed officers, along with a dozen
international observers from the Organization for Security and
Co-operation in Europe (OSCE), will make a third attempt at visiting
the rebel-held crash site on Tuesday.
Separatists and government forces have been fighting in the area
around the debris field, which covers about 50 square kilometers,
despite assurances from both sides that the multinational team would
have access.