EU Adopts Further Sanctions Against Russia, Delays Enforcement (9)
The European Union approved a new round of sanctions on Monday, but decided to delay their enforcement.
European Union President Herman Van Rompuy said in a statement that the new sanctions will be entered into the official journal of the EU, where new bills are codified, in a few days.
"This will leave time for an assessment of the implementation of the cease-fire agreement and the peace plan," Van Rompuy told Reuters. "Depending on the situation on the ground, the EU stands ready to review the agreed sanctions in whole or in part."
EU member states were required to give their consent to the sanction Monday morning, but several countries have delayed it, including Finland, which wants to hold back on implementing the new sanctions while talks are under way, reported the Wall Street Journal.
"Finland in general isn't of the opinion that the right time [for the sanctions] is right now," Finnish Prime Minister Alexander Stubb told reporters.
Part of the new sanction regime is restricting Russian state-owned companies to foreign capital. Diplomats said the sanctions will affect the subsidiaries of oil companies such as Rosneft and Gazprom, but not the gas companies themselves.