Ukraine crisis: EU to draft tougher sanctions against Russia 'within a week'

In a move signaling further tightening of EU sanctions on Russia, the EU has given Russia one week to reduce its military intervention in Ukraine or face new sanctions.

European Council President Herman Van Rompuy said the EU stands ready to take further significant steps.

Rompuy said the EU was working urgently on readying proposals in a week's time.

The BBC reports that Western leaders say there is clear evidence of regular Russian military units operating inside Ukraine with heavy weapons.

However, Russia has denied the accusations.

Ukrainian President Petro Poroshenko, earlier, said his country was close to a point of no return - full scale-war with Russia.

The country has repeatedly accused Ukraine of sending troops and artillery to support pro-Russian rebels in eastern Ukraine.