Newport, Wales: The European Union has slapped new economic sanctions on Russia, but said they could be suspended if Moscow withdrew its troops from Ukraine and observed a ceasefire.

Some provisions will make it harder for Russian state-owned firms to raise finance in the EU. Diplomats expect them to hit, among others, the oil company Rosneft and units of Gazprom, though not the gas firm itself, a main supplier to the EU.

Ukrainian servicemen ride on an armoured vehicle in Mariupol following the ceasefire. Credit:Reuters

A further 24 people were added to a list of those barred from entry to the bloc and whose assets in the EU are frozen.

"The ambassadors agreed on a package of sanctions against persons and sectors of the Russian economy," said one senior EU diplomat involved in the talks.