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EU toughens Russia sanctions over Ukraine

German Chancellor Angela Merkel speaks to the press as she arrives on July 16, 2014 at the EU headquarters in BrusselsEuropean Union leaders agreed to tighten sanctions against Moscow over the Ukraine crisis on Wednesday, including moving to punish Russian firms that back actions to undermine Kiev. The measures, announced moments after Washington beefed up its own sanctions, will target both individuals and firms providing material or financial support to efforts to undermine Ukraine’s sovereignty as well as to those responsible for the annexation of Crimea or the destabilisation of eastern Ukraine. The 28 leaders, meeting at a summit to discuss the crisis and to fill top EU jobs, also agreed to suspend new investments in Russia by the EU’s European Investment Bank (EIB) and European Bank of Reconstruction and Development (EBRD).

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