EU plans new Russia sanctions after sham 'referendums'

The European Union has proposed a raft of new sanctions against Russia in response to the so-called referendums in four Ukrainian regions.

European Commission President Ursula von der Leyen made the announcement, saying the package was designed "to make the Kremlin pay" for escalating the conflict in Ukraine with what she called "sham" votes in occupied territory.

The sanctions package includes further import bans on Russian products, expected to deprive Moscow of an additional €7 billion ($6.7 billion) in revenues.

It also features export bans on key technology used for the military such as aviation items, electronic components and specific chemical substances.

The sanctions package will map out the legal basis for an oil price cap and will ban EU citizens from sitting on governing bodies of Russian state-owned companies, von der Leyen said.