European leaders have agreed on fresh sanctions on Russia, specifically targeting two branches of the world’s biggest oil producer Gazprom: Gazprom Bank and Gazprom Neft.
Sky News citing a European Union diplomat reported that fresh round of sanctions would include credit restrictions on Russia companies, export bans, and travel bans and asset freezes on a new set of officials.
The latest set of sanctions would be imposed on Russia early next week, despite its agreeing to a ceasefire in Ukraine.
British prime minister David Cameron said sanctions on Russia would continue despite the 12-point peace plan agreed by both sides. He was speaking at the end of a Nato Summit in Wales on 5 September.
Cameron added that sanctions could be lifted if peace in the region last long.