The European Union, feeling left out after America and Russia traded sanctions earlier today, has issued sanctions of its own.

Twelve Russians that the EU says played a part in the invasion of Crimea have had their assets frozen and are banned from traveling to the EU. The list hasn't been released yet, but French president Francois Hollande said it would be similar to that of the United States.

Also, the EU-Russia summit that was to take place in Sochi in June has been called off.

The EU also issued sanctions on Crimean officials three days ago but has held off on harsher sanctions that could potentially damage the EU's economy. European Council president Herman Van Rompuy warned that any further action by Russia into Ukraine would have "far-reaching consequences."