Relations between Russia and Europe took a turn for the worse this weekend, on reports that Moscow had banned 89 European politicians and military leaders from entering the country, in a move that could land it with an extension of economic sanctions.

The European Union (EU) said on Saturday that multiple officials had been placed on Moscow's "stop list," denying them entry to Russia. These include top brass from the U.K., France, Germany, Scandinavia, the Baltic states and eastern European countries that have criticized Russia.

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"The list with 89 names has now been shared by the Russian authorities," according to a press release on the EU's External Action website.

"We don't have any other information on legal basis, criteria and process of this decision. We consider this measure as totally arbitrary and unjustified, especially in the absence of any further clarification and transparency."

Russia's foreign ministry refused to confirm or deny the existence of the "stop list" when contacted by CNBC on Monday.