The FINANCIAL — The European Union has strongly condemned Russia’s “unprovoked violation of Ukrainian sovereignty and territorial integrity” and called on the immediate withdrawal of its armed forces, according to EU Neighbourhood Info.
“The solution to the crisis in Ukraine must be based on the territorial integrity, sovereignty and independence of Ukraine, as well as the strict adherence to international standards,” EU leaders said in a statement following the extraordinary meeting of the Union's heads of state or government yesterday.
The EU leaders consider the decision by Crimea’s Supreme Council to hold a referendum as contrary to the Ukrainian constitution and therefore illegal, the statement said.
The EU has “a special responsibility for peace, stability and prosperity on our continent, and we are ready to take that responsibility. Acts of aggression cannot be without consequences,” said President of the European Council
Herman Van Rompuy in his remarks after the summit.
“This is the certainly the most serious situation we are facing in the European continent in many years in terms of stability and threats to peace. We need to show our citizens and the people of Ukraine that we are up to this task,” European Commission President José Manuel Barroso said.
In a three-step approach, the EU leaders decided to suspend bilateral talks with Russia on visa matters and talks on the New Agreement, reiterating their support for the decision of the European members of the G8 and the EU institutions to suspend their participation in G8 Summit preparations until further notice, according to EU Neighbourhood Info.
The solution to the crisis should be found through official negotiations between Ukraine and Russia, including through potential multilateral mechanisms, the leaders underlined. The EU has important relations with both countries and stands ready to engage in the political process, bilaterally as a Union and also in broader multilateral initiatives (contact group), the summit statement said.
If such efforts fails to bring results, the EU will decide on additional measures, such as travel bans, asset freezes and the cancellation of the EU-Russia summit, according to EU Neighbourhood Info.
Any further steps by Russia to destabilise the situation in Ukraine would lead to “additional and far reaching consequences for relations in a broad range of economic areas,” the EU leaders insisted.
The EU has reiterated the European commitment to signing the Association Agreement with Ukraine. The leaders decided as a matter of priority to sign the political chapters before the Ukrainian elections of 25 May.
The EU also pledged to provide Ukraine with strong financial backing, stressing the urgent need to restore macro-economic stability. The leaders welcomed the Commission's proposal for an EU aid package worth €11 billion, Barroso said after the summit.
The leaders also pledged to adopt special trade measures to allow Ukraine to benefit substantially soon from the advantages of the Free Trade Area, according to EU Neighbourhood Info.
The EU remains committed to the visa liberalisation process, to encouraging contacts between the citizens of the EU and of Ukraine, the statement said, adding the Union also stands ready to assist also on energy security.
The leaders welcomed the decision to freeze and recover misappropriated (or stolen) Ukrainian State assets, taken earlier this week by EU foreign ministers.
“From Ukraine's side, efforts must continue towards free and fair elections, constitutional reform and the investigation of all acts of violence. The way forward must be one of inclusiveness towards all regions, people and minorities. Fighting corruption and launching wider structural reforms will all be essential,” the statement said.
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