EU agrees sanctions against Russia over Ukraine crisis

The European Union agreed new sanctions on Russia that will blacklist more politicians, lawmakers and officials, ban EU investors from trading in Russian state bonds, and target imports and exports with separatist entities, Report informs, citing Reuters.

However, EU foreign ministers chose not to sanction Russian President Vladimir Putin, the EU's foreign policy chief Josep Borrell said following a meeting in Paris on Tuesday.

"This package of sanctions that has been approved by unanimity by the member states will hurt Russia, and it will hurt a lot," Borrell told a news conference alongside France's foreign minister Jean-Yves Le Drian at a meeting in Paris.

The package of sanctions includes all members of the lower house of the Russian parliament who voted in favour of the recognition of Donetsk and Luhansk 'people's republics.'

It was not immediately clear when the sanctions would take effect, but diplomats expect them in the coming hours or days, when names and details will be made public.

Borrell also said: "We are going to target 27 individuals and entities who are playing a role in undermining or threatening Ukrainian territorial integrity, sovereignty and independence."

Borrell said those individuals and entities were in Russia's defence, banking and financial sector.

"We target the ability of the Russian state and government to access our capital and financial markets and services," Borrell said.

Banks involved in financing Russia's operations in Donbas would also be targeted.

Borrell congratulated Germany's decision to put the Nord Stream 2 gas pipeline project on ice.