Ukraine crisis: EU extends sanctions over Crimea
Pro-Russia forces have seized control of Ukrainian naval bases in Crimea The EU has slapped sanctions on another 12 individuals over Russia's annexation of Crimea from Ukraine.
European Council President Herman Van Rompuy said any further steps by Russia to destabilise Ukraine would have "far-reaching consequences".
It comes hours after President Barack Obama announced further US sanctions against Russia over the Crimea crisis.
Crimea is in the process of being absorbed into Russia following a disputed referendum in the peninsula.
The referendum has been described as illegal by Kiev and the West.
A treaty joining Crimea to Russia has now been approved by Russia's lower house of parliament - the Duma - and is expected to be ratified by the upper house on Friday.
For its part, the EU is due to sign the economic sections of a trade pact with Ukraine on Friday. When ousted Ukraine President Viktor Yanukovych declined to sign it in November, it sparked the current crisis.
Broader sanctions threatEarlier this week, the EU announced asset freezes and travel bans against 21 individuals in Russia and Ukraine.
At the same time the US ordered similar sanctions against 11 individuals.
Washington's latest measures target a further 20 people closely associated with Russian President Vladimir Putin, as well as a bank, Rossiya, controlled by his allies.
In response, Russia said it was imposing its own sanctions against US officials and politicians.
Following a summit of EU leaders in Brussels on Thursday evening, Mr Van Rompuy said they would also ask the European Commission to prepare for broader economic sanctions against Russia if the crisis escalates.
French President Francois Hollande said: "Russia must understand that it cannot continue, that it must take the path of dialogue."
The names of the latest individuals to be targeted by the EU will be made public on Friday.
Meanwhile, Moscow has been tightening its grip on Crimea.
On Thursday, Russian-allied troops took over at least two Ukrainian navy ships at anchor in the port of Sevastopol.
A Ukrainian defence ministry spokesman said at least 15 men were involved in the assault.
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