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Ukraine crisis: Prime Minister David Cameron hails 'real progress' on Crimea | Ukraine crisis: Prime Minister David Cameron hails 'real progress' on Crimea |
(about 4 hours later) | |
The European Union has added to the pressure on Vladimir Putin over Russia's Crimea takeover, with leaders talking late into last night to agree sanctions against 12 members of the President's inner circle. | |
The 28 leaders also agreed that the European Commission should draw up a set of "wide-ranging" measures targeting Russia's economy which could be put into effect if Moscow escalates the crisis further. | |
The action comes as the Russian parliament's upper house unanimously endorsed the annexation of Crimea from Ukraine, and a day after US President Barack Obama unleashed stronger sanctions against a long list of Putin's close associates, including his chief of staff and his personal banker. Obama also pledged that Russia’s key oil and energy sectors would be targeted next if it goes any further into Ukraine. | |
Russia responded with sanctions of its own against American lawmakers, including travel bans against former presidential nominee John McCain and Speaker of the House of Representatives John Boehner. | |
But Putin today suggested there would be no more retaliation from Russia. During televised remarks at Friday's session of the presidential Security Council, he said: "We must refrain from retaliatory steps for now." | |
Russian pposition leader Alexey Navalny - a former candidate for Moscow mayor - said there should also be Western sanctions against Russian oligarchs who have made a home in the West, like Chelsea FC owner Roman Abramovich. | |
He wrote in the New York Times: "Real sanctions, such as blocking access to their plush London apartments, will show that Mr Putin's folly comes with serious costs." | |
The EU is today expected to sign elements of a trade deal with Ukraine, similar to the one which former president Victor Yanukovych pulled out of in November, precipitating violent unrest, his deposition and eventually Russia's moves on Crimea. | |
Herman van Rompuy, European Council president, announced the decision to extend sanctions against Russian officials and politicians beyond the 21 subjected to travel bans and asset freezes earlier this week, and said that a planned EU-Russia summit in June had been cancelled. | |
He said: "Russia's annexation of Crimea and of Sevastopol is a clear violation of Ukrainian sovereignty and of international law. | |
"We strongly condemn the unconstitutional referendum in Crimea. We will not recognise the annexation, nor will we recognise it in the future." | "We strongly condemn the unconstitutional referendum in Crimea. We will not recognise the annexation, nor will we recognise it in the future." |
And Mr Cameron said after the talks: "It has been hard work. But we've made some real progress. | |
Russian soldiers patrol the area surrounding the Ukrainian military unit in Perevalnoye, outside Simferopol "I said we need to expand the list of people who are subject to travel bans and asset freezes and we've done that. | |
"I've said we needed some specific measures in respect of what has happened in Crimea, which is unacceptable, and we've agreed that. | "I've said we needed some specific measures in respect of what has happened in Crimea, which is unacceptable, and we've agreed that. |
The blacklist of 20 individuals unveiled by Mr Obama in Washington also included prominent businessman Gennady Timchenko and billionaire brothers Arkady and Boris Rotenberg, who were judo sparring partners of the Russian president, as well as Mr Putin's chief of staff Sergei Ivanov, Duma Speaker Sergei Naryshkin and Russian Railways chairman Vladimir Yakunin. | The blacklist of 20 individuals unveiled by Mr Obama in Washington also included prominent businessman Gennady Timchenko and billionaire brothers Arkady and Boris Rotenberg, who were judo sparring partners of the Russian president, as well as Mr Putin's chief of staff Sergei Ivanov, Duma Speaker Sergei Naryshkin and Russian Railways chairman Vladimir Yakunin. |
Mr Obama is due to meet other G7 states - the UK, France, Germany, Italy, Canada and Japan - to discuss Ukraine on the margins of a nuclear security summit in the Netherlands next week, when proposals to eject Russia from the wider G8 group of world powers will be discussed. | Mr Obama is due to meet other G7 states - the UK, France, Germany, Italy, Canada and Japan - to discuss Ukraine on the margins of a nuclear security summit in the Netherlands next week, when proposals to eject Russia from the wider G8 group of world powers will be discussed. |
The ratings agency Standard & Poor’s downgraded Russia’s credit rating outlook from stable to negative, saying the economy is threatened by the sanctions. | |
S&P affirmed Russia’s ranking at BBB, the second-lowest investment grade, on par with Brazil, South Africa and Italy. The rating company said “heightened geopolitical risk” could accelerate capital flight and weaken the economy further. |