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Italian FM: 'EU to Decide on New Sanctions Against Russia on September 5'

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The European Union will decide on a new round of economic sanctions against Russia, over Moscow’s stance on the Ukrainian conflict, on September 5, Italian Foreign Minister Federica Mogherini told the European Parliament on Tuesday.

ROME, September 2 (RIA Novosti) -The European Union will decide on a new round of economic sanctions against Russia, over Moscow’s stance on the Ukrainian conflict, on September 5, Italian Foreign Minister Federica Mogherini told the European Parliament on Tuesday.

Mogherini said that the Committee of Permanent Representatives in the European Union (Coreper) met to discuss possible economic sanctions against Russia on Monday and the next meeting is scheduled for Wednesday, when the European Commission will present its proposals. The final decision will be taken by Friday.

According to Mogherini , the sanctions will affect Russia’s financial sector as well as the export of arms and technologies to Russia.

On Saturday, Mogherini was appointed the next EU High Representative on foreign and security policy. She will take up her post on November 1.

As the Ukrainian crisis escalated, the United States and the European Union have imposed several rounds of economic sanctions on Moscow. Russia replied with the imposition of a year-long ban on certain food imports from the European Union, the United States, Canada, Australia and Norway.

At the EU Summit held in Brussels on August 30, European leaders asked the European Commission to come up with proposals for more sanctions within a week.

Russia has repeatedly stated, that sanctions are counterproductive and have negative economic impacts on the countries that have imposed them.

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