(VOVworld) - The EU adopted additional sanctions against Crimea on Thursday, which ban investment and restrict trade activities in Crimea and Sevastopol.

EU foreign policy chief Federica Mogherini (left) talks to European Council President Donald Tusk in Brussels on December 18, 2014 (Photo: Reuters)

The sanctions are part of an EU policy which does not recognize the annexation of Crimea and Sevastopol by the Russian Federation.

The new sanctions were announced hours ahead of the EU Winter Summit in Brussels and expand the sanctions imposed in June and July banning certain individuals from entering the EU and freezing their assets, and banning certain institutions from investing in the EU, including Russia’s Rosneft oil company.