New round of sanctions slams Syria

The European Union is moving to widen its sanctions against Syria because of the Arab state's brutal crackdown on protesters, officials said on Monday, adding that Syria's largest commercial bank is a target.

The EU moves would come after the failure by the U.S. and European allies to pass a U.N. Security Council resolution threatening sanctions against Syria. Russia and China vetoed Tuesday's measure, which would have been the first legally binding council resolution against Syria since President Bashar Assad's forces began attacking pro-democracy protesters in mid-March.

The UN estimates the crackdown has led to more than 2,900 deaths. The killings have already prompted the 27-nation EU to expanded sanctions against Syria several times. The latest sanctions will likely not be ready yet for EU foreign ministers to endorse during Monday's monthly council meeting. But a high-ranking EU official said they should be pushed through "in the coming days."

On Monday, the EU foreign ministers are set to call again on Assad to step down and allow for a political transition. In August, the U.S. took action against the bank by freezing any assets the firm has in U.S. jurisdictions and banning Americans from doing business with it. The EU sanctions would likely be similar.