The grip of Western sanctions around the neck of the Russian economy may be squeezed even tighter this week, as the death toll in the ongoing fighting in Ukraine rises.
New sanctions against Russia by the European Union are expected soon, after its heads of state called on the European Union (EU) to consider "further restrictive measures" in a statement Tuesday. More news on the extent of sanctions is expected after a meeting of the trading bloc's foreign ministers on Thursday afternoon.
The Financial Times became the first major Western media outlet to call for the West to arm Ukraine in an editorial published on FT.com Wednesday night, and in Thursday's print edition. This reflects a gradual hardening of attitudes among Western decision-makers towards Russia and its actions in the country.