You're reading: Poroshenko: EU shows support for Ukraine by taking new measures against Russia

Ukrainian President Petro Poroshenko has said that the European Council, after approving six new measures related to the Ukrainian crisis and Russia's annexation of Crimea, has taken an important step to support Ukraine's independence and territorial integrity.

“Europe is showing solidarity with Ukraine. The European Council has
taken an important step in support of Ukraine’s sovereignty, territorial
integrity and independence. Our ongoing dialogue has produced a
result,” Poroshenko wrote on his page on Twitter early on Thursday, July 17.

He also added: “We are waiting for a European Parliament resolution.”

As reported, early on July 17, the heads of state and government of
the EU countries restricted international funding for projects in Russia
and Crimea by adopting six new measures related to the crisis in
Ukraine and Russia’s annexation of Crimea.

First, the EU expanded the restrictive measures, with a view to
targeting entities, so not only individuals, as it did until now, but
entities “that are materially or financially supporting actions
undermining or threatening Ukrainian sovereignty, territorial integrity
and independence.” As an extra element, the European Council was asked
to consider possibly targeting individuals or entities who actively
provide material or financial support to the Russian decision-makers
responsible for the annexation of Crimea or the destabilization of
eastern Ukraine.

Second, it was decided to put a brake on European public money
flowing into Russia. The EU leaders requested the European Investment
Bank to suspend new financing operations of public sector projects in
Russia.

Third, the EU countries will coordinate their positions within the
European Bank for Reconstruction and Development with the same
intention.

Fourth: the European Commission will re-assess bilateral EU-Russia
cooperation programs, on a case by case basis, with a view to suspending
them. The projects dealing exclusively with civil society and cross
border cooperation will be maintained.

The fifth measure is specifically related to Crimea. Because of its
illegal annexation by Russia, the EU is restricting European investment
in Crimea.

Sixth, the EU expects international financial institutions to refrain
from financing projects that “explicitly or implicitly recognize the
illegal annexation.”