The European Union has decided to impose personal sanctions on Russian President Vladimir Putin and Foreign Minister Sergei Lavrov over the developments in and around Ukraine, High Representative of the EU for Foreign Affairs and Security Policy and European Commission Vice President Josep Borrell said on Friday.

"Putin and Lavrov will be on the [sanctions] list," Borrell said at a press conference.

The EU sanctions will also target a group of Russian State Duma deputies who voted to approve Russia's actions in Ukraine, he said.

The sanctions list is yet to be published in the Official Journal of the European Union later.