BBC Online :
The G7 group of economic powers has agreed to intensify sanctions on Russia over its actions in Ukraine.
A G7 statement gave no detail of the sanctions, but US officials said they could announce measures by Monday.
The West accuses Russia of leading a secession rebellion in Ukraine’s east, months after it annexed Crimea. Moscow denies the allegations.
Meanwhile, negotiators are trying to secure the release of international observers seized by pro-Russia gunmen.
Forces in the city of Sloviansk are still holding the eight European military observers and several Ukrainian army personnel who they seized on Friday and accuse of espionage.
The observers were taking part in a mission linked to the Organisation for Security and Co-operation in Europe (OSCE). It’s all reminiscent of a game of poker, with Moscow intent on raising the stakes and G7 leaders forced to match the Russians step-for-step.
The G7 statement is unequivocal – it blames Russia for failing to implement the Geneva accord that offered a diplomatic path out of this crisis. Accordingly, Moscow has now been hit with more
Western economic sanctions, the details to be revealed in a matter of days. The G7 is still holding in reserve broader sanctions against the Russian banking or financial sectors. That would be a last-ditch threat to try to avert further military action against Ukraine.
But with Russian aircraft flying into Ukrainian air-space and Russian ground exercises under way there is an ever present danger of this crisis escalating out of control. Moscow will now be weighing up the likely cost of sanctions, set against the central importance of its strategic interests in Ukraine.
Russia has tens of thousands of troops deployed along its side of the border with Ukraine and has said it would act if its interests were threatened.
The US accused Russian jets of violating Ukraine’s airspace on Friday in a further sign of escalation.
Pentagon spokesman Col Steven Warren said Russian aircraft had entered Ukrainian airspace several times in the past 24 hours.
