EU adopts targeted measures against Russia

The European Union (EU) Thursday decided to conduct targeted measures against Russia due to Ukraine crisis, calling for solution to the crisis through negotiations between Ukraine and Russia.

Speaking at a press conference after Thursday's EU extraordinary summit, European Council President Herman Van Rompuy called for a peaceful solution to the Ukraine crisis, Xinhua reported.

"We have important relations with both Russia and Ukraine and stand ready to engage with both, bilaterally as a union and also in broader multilateral initiatives. The EU will participate in the Contact Group. We want a solution in full respect of international law and the territorial integrity of countries," he said.

While the tension remains, the EU said in a statement that they decided to take measures toward Russia, including suspending talks with Russia on a wide-ranging economic pact and on a visa deal.

Meanwhile, the EU would support the decision of the European members of the G8 and the EU institutions to suspend their participation preparations for G8 Summit until further notice.

On Wednesday, Russian Federation Council (upper house of parliament) Chair Valentina Matvienkoa urged the West not to threaten sanctions against Moscow.

"Threats and language of sanctions towards Russia are absolutely counter-productive. It is impossible to imagine how sanctions could isolate Russia from the global economic process," she told reporters.