Russian President Vladimir Putin has called for immediate talks on statehood for eastern Ukraine as part of negotiations to try to end the conflict there.
Mr Putin was quoted as saying that, what he called, the lawful interests of his people must be protected.
Yesterday, the EU pledged to support Ukraine's sovereignty and draw up new economic sanctions on Russia which has denied that its military forces are operating inside Ukraine.
Last night, Taoiseach Enda Kenny said that a new list of sanctions against Russia would be ready within seven days if Moscow did not withdraw troops and heavy weapons from eastern Ukraine.
Mr Kenny was speaking following a special summit of EU leaders in Brussels.
"Within seven days a new list of further options - serious options - would be presented for consideration," he told reporters.
The Taoiseach said that the mood of the meeting was one of solidarity with Ukraine, as well as unity among EU member states that Europe should not "renege upon" Ukraine, or "turn its back on the Ukrainian people" who wish to be associated very closely with the European Union.
Mr Kenny said that individuals and institutions which had supported pro-Russian separatists in Ukraine would be listed as part of broader sanctions effort.
The European Commission will now propose ways of "scaling up" existing sanctions against Russian and pro-Russian individuals, as well as companies within Russia's financial, arms and energy sectors.
Once the commission makes its proposal, member states can then formally impose the measures against Russia.
The crisis in Ukraine is expected to dominate next week's NATO summit in Wales.
The Taoiseach also welcomed the appointments of Polish Prime Minister Donald Tusk as the new President of the European Council, to replace Herman Van Rompuy in December, and Italian Foreign Minister Federica Mogherini as the new EU High Representative for Foreign Policy.
Mr Kenny said that EU leaders discussed ways to alleviate Europe's high levels of unemployment, in particular youth unemployment.
He said that European Commission President-elect Jean-Claude Juncker would present a €300 billion investment programme in November.
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