Arseniy Yatseniuk
Arseniy Yatsenyuk (pictured) is leading efforts to impose sanctions on Russia.Reuters

After the EU and US imposed sanctions on Russia due to its aggression in Ukraine, Kiev is now preparing its own measures, claiming the Kremlin is funding terrorist activity.

The Ukrainian government has set up a committee specifically to impose sanctions against Russian entities, and individuals, which support terrorism.

"Ukraine will impose sanctions with respect to each individual who has a passport of the Russian Federation and supports terrorists and separatists in Ukraine" said Prime Minister Arseniy Yatsenyuk.

"The Committee shall introduce a list of all companies, which are residents of the Russian Federation and that directly or indirectly finance terrorism [and] which supported the annexation of Crimea"

Ukraine is also preparing a note to Russia, accusing Moscow of violating the International Convention for the Suppression of the Financing of Terrorism. Yatsenyuk hopes the case will be seen by the International Court of Justice.

Little detail as yet

The officials have not elaborated on exactly what sanctions will be implemented, but they do promise to implement the punitive measures within ten days.

Up until now, the only major restrictive measures that Ukraine has imposed upon Russia are the cancellation of the defence cooperation agreement which previously existed between the two countries, and the rejection of the gas supply from Gazprom.

As to personal sanctions, the leaders of the pro-Russian separatists, such as Moscow citizen Igor Strelkov, have been placed on a government-sponsored wanted list. Recently the Ukrainian Interior ministry initiated an investigation against Russian Defence Minister Sergey Shoygu and businessman Konstantin Malofeev.

According to Ukraine's Interior Minister Anton Herashchenko, Shoygu could be responsible for supplying terrorists with the Buk missile system which some are claiming was used to shoot down Malaysia Airlines flight MH17.