The European Union has announced new sanctions against Russia at the first day of an EU summit in Brussels.

The bloc has added another 12 people to its blacklist over the annexation of Crimea by Russia. They join 21 individuals that the EU slapped with travel bans and asset freezes earlier this week.

The President of the European Council Herman Van Rompuy threatened further measures against Russia if the crisis escalates:

“We make clear that failure to settle the crisis peacefully, and any steps by Russia to destabilise Ukraine, will have far-reaching consequences. And by that we mean consequences on relations in a broad range of economic areas,” Van Rompuy said.

On the sidelines of the summit, Finnish Prime Minister Jyrki Katainen told euronews that he hoped for a diplomatic solution:

“We believe that Russians should come to the negotiating table with Ukraine and the international community because it’s the only way to get out of this, Katainen explained.

Euronews’ Margherita Sforza reported from Brussels: “Europe and the US will try to better coordinate better their positions on Monday at the G7 summit.”