EU formally adopts new sanctions against Russia, but delays implementation to asses cease-fire

Economic Indicators Associated Press

The European Council has formally adopted a package of further EU sanctions against Russia over its actions in eastern Ukraine, but is delaying the enforcement to assess the implementation of the cease-fire agreement first.

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The President of the European Council Herman Van Rompuy said in a statement Monday the sanctions will be implemented "in the next few days."

He said that should leave time for "an assessment of the implementation of the cease-fire agreement and the peace plan."

He said the EU is prepared to review the agreed sanctions in whole or in part, depending on the situation on the ground.

In the deal signed Friday in the Belarusian capital of Minsk, Ukraine, Russia and the Kremlin-backed separatists agreed to an immediate cease-fire and an exchange of prisoners.