European Union leaders gathered in Brussels on Thursday to seek solutions regarding Russia and how to jump start sluggish economic growth.
EU Foreign Policy Chief Federica Mogherini urged Russian President Vladimir Putin to cooperate given the decline of the ruble amid western sanctions and a drop in oil prices.
"The fact that Russia is in a difficult situation from a financial point of view is not good news. It's not good news, first of all for the Russian citizens, and this is what I think everybody, starting from the Russian leadership, should take care about."
The leaders are also set to discuss the first proposal of a new EU investment plan to stimulate growth.
European Commission Vice President Jyrki Katainen
"This is not a one-off stimulus measure, instead this is a structural plan which can make a change, create new market, create new risk financing and create a project pipeline which will help private investors to select projects to which they want to participate."
The plan is to use 21 billion euros to attract 15 times more private investment in infrastructure, energy projects, research and education.
It is expected to be endorsed by the 28 state leaders at the summit.
