"The new EU sanctions on Russia will take effect on Friday, September 12, 2014," he said. "In the light of the review and if the situation on the ground so warrants, the Commission and the EEAS /EU diplomatic service/ are invited to put forward proposals to amend, suspend or repeal the set of sanctions in force, in all or in part," he added.
He said this will depend on the realisation of the peace plan in Ukraine.
Earlier on Thursday, a source in the EU foreign policy service said the EU ambassadors have made a decision the new package of sanctions against Russia will take effect as of September 12.
“The decision is ready. New sanctions will take effect tomorrow, on September 12, when they are published in the Official Journal of the European Union,” the source said.
At the same time the official added that they may be revised or cancelled altogether depending on the march of events in Ukraine.
“In particular, it will depend on the observance of the ceasefire agreement and on implementation of the settlement plan,” the source said.
Furthermore, sanctions may hit such Russian arms manufacturers as Uralvagonzavod, Oboronprom and United Aircraft-building Corporation.
The European Union plans to cut the maximum period of Russian bonds’ circulation in the 28 EU countries to 30 days from 90.
According to media reports, at least 20 individuals will be added to the black list for Russia and Ukraine.