The EU has responded directly to the worsening situation in Ukraine by agreeing "as a matter of urgency to introduce targeted sanctions including asset freeze and visa ban against those responsible for human rights violations, violence and use of excessive force. Member States agreed to suspend export licences on equipment which might be used for internal repression and reassess export licences for equipment covered by Common Position 2008/944/CFSP".
To come into effect the full text of the sanctions needs to be published in the Official Journal.
The wider commercial impact of the measures will depend to a significant extent on the actual number of listed persons subject to the assets freeze.