Europe adopts toughest sanction package for Russia yet

Jul 31, 2014, 11:30 AM EDT
Russian President Vladimir Putin attends a government meeting on the Russian economy on July 30, 2014 in Moscow, Russia.
Sasha Mordovets/Getty Images

The European Union formally adopted sanctions on Thursday curbing arms sales to Russia and cutting off financing for targeted banks over Moscow's support for rebels in Ukraine. Russia has denounced the measures, agreed by the 28 EU member states on Tuesday, as "destructive and short-sighted", while fighting has intensified in eastern Ukraine between Kiev forces and the pro-Russian separatists.

Background:

Russia sanctions: who will be hurt the most? [BBC]

E.U. adopts toughest Russia sanctions yet [Reuters]