By Daniel Hunter

EU foreign ministers have agreed to extend the economic sanctions against Russia until September.

There will not be any new sanctions imposed on the country, but there was an agreement to discuss adding to the somewhat of a black list of names who are targeted with EU travel bans and asset freezes.

The decision came as fighting intensified in eastern Ukraine near the strategic rail junction between Donetsk and Luhansk. Russia has always denied any involvement with the pro-Russian forces fighting in the east of Ukraine.

Russia has today (Friday) cut interest rates from 17% to 15% after signs of inflation "stabilising".

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