"Until there is real peace, until occupying forces are withdrawn, and until Ukraine's territorial sovereignty is restored, there must be ongoing consequences for President Putin's regime," the message reads.
"Our Government is therefore announcing additional sanctions and travel bans against Russian individuals, and economic sanctions against Russian entities, as well as a Crimean import/export ban.
"These further sanctions are being taken in coordination with our partners.
"We stand with our partners in calling on President Putin to end his invasion of Eastern Ukraine, to withdraw his soldiers, tanks and heavy weapons, and to cease providing military aid to insurgents.
"We support current efforts for a diplomatic solution and call for Russia and its proxies to fully implement their commitments under the Minsk agreements," the statement reads.