European sanctions 'serious hit' to Russian economy: expert The European Union agreed Tuesday to impose broad economic sanctions against Russia, hoping to force Moscow to reverse course in Ukraine, EU officials said. The new measures impose restrictions on the finance, defence and energy sectors so as to increase the cost to Russia of its continued intervention and support of pro-Moscow rebels in Ukraine. Chris Weafer, a consultant on investing in Russia, says the sanctions could have a serious impact on the Russian economy. IMAGES AND SOUNDBITES. REFILES TO CORRECT DATELINE