EU Plans More Sanctions Against Russia

(Vatican Radio) European Union leaders were due to meet in Brussels Thursday to discuss further targeted sanctions against Russia in response to Russian moves to annex Ukraine's Crimean Peninsula. The EU also announced additional financial support for Ukraine, where the interim government said it would withdraw its troops from Crimea.

Amid the diplomatic and military wrangling, Kyiv surrendered to Russia's effective seizure of Crimea, after pro-Russian forces took control of two naval bases including Ukraine's navy headquarters, capturing its commander.

The naval commander Sergei Gaiduk and other hostages were eventually released Thursday after an ultimatum set by Ukraine's acting president Oleksandr Turchynov amid warnings from the White House that Russia was "creating a dangerous situation".

Though many Ukrainian servicemen have already switched sides to Russia, authorities said they were prepared to relocate as many as 25,000 soldiers and their families to the Ukrainian mainland.

EU BLACKLIST

Concerned over the rising tensions in Crimea, leaders of the European Union were expected to extend a blacklist of Russian and Crimean figures subject to travel bans and asset freezes over their role in the conflict.

Moscow has already threatened with retaliation after the EU decision on Monday to blacklist 21 Russian and Crimean officials.

The EU has also announced an additional one billion euros, some $1.4 billion, in emergency loans from the European Commission, on top of the 610 million euros already offered. The cash will come from MFAs – or macro-financial assistance, explained EU's Finance and Monetary Affairs Commissioner Olli Rehn.

"The first tranches of assistance from the EU, 100 million euros from the existing MFA and 500 million euros from the new MFA...should be ready to be disbursed right after an agreement on an [International Monetary Fund] IMF programme for Ukraine has been concluded,: Rehn said. "The rest of the loan would be disbursed during the course of this year," he added.

REFORMS DEMANDED

Yet the EU has made clear that Kyiv will only receive the cash under condition that it pledges major economic reforms. And, there is some concern about new threats against Ukraine's fragile democratic experience.

The acting chief executive of Ukraine's state broadcaster was forced to sign a resignation letter after legislators of the far-right Svoboda party broke into his office over his decision to broadcast a ceremony from the Kremlin on Tuesday.

Oleksandr Panteleymonov was beaten and later rushed to hospital in a state of shock.

Ukrainian Prime Minister Arseniy Yatsenyuk has condemned the attack.

Listen to the report by Stefan Bos: