The European Union is threatening to freeze visa liberalization and economic cooperation talks and boycott the G8 summit in Russia's Sochi if Moscow does not deescalate the crisis in Ukraine's Crimean peninsula by Thursday.
French Foreign Minister Laurent Fabius said the EU would give Russia until an emergency summit of EU leaders is held on Thursday to show clear signs of goodwill, including a willingness to open talks and a withdrawal of Russian troops to their barracks in the Crimea.
If not, Fabius said the EU would start implementing punitive measures.
EU Council President Herman Van Rompuy called the emergency summit late Monday after the foreign ministers ended their talks.
A file photo shows troops at Simferopol Airport in Crimea on February 28, 2014.