The European Union formally adopted a package of new sanctions against Russia on Monday, but said their entry into force would be delayed to leave time to assess whether a cease-fire in Ukraine is holding.
“The entry into force [of the new sanctions] through the publication in the Official Journal will take place in the next few days. This will leave time for an assessment of the implementation of the cease-fire agreement and the peace plan,” EU Council President Herman Van Rompuy said in a statement.
“Depending on the situation on the ground, the EU stands ready to review the agreed sanctions in whole or in part,” he said.
Last Friday, Ukrainian President Petro Poroshenko announced that he had instituted a cease-fire following an agreement with pro-Russian separatists in the eastern part of the country.
Later that day, U.S. President Barack Obama said at a press conference that “we are hopeful, but based on past experience also skeptical” that the cease-fire agreement would hold. he also emphasized that the current cessation of hostilities is because of current Western sanctions on Russia, and the threat of more.
via CNBC
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