ECOWAS sanctions Mali - UPI.com ABIDJAN, Ivory Coast, April 3 (UPI) -- The escalating situation in Mali is growing more serious by the day, a top African leader said after a regional bloc imposed sanctions on the country. Rebel military leaders seized power in a coup last week, condemning the administration of President Amadou Toumani Toure for its failure to take on an insurgency waged by Tuareg militants in northern Mali. The Economic Community of West African States has condemned the coup. Ivorian President and ECOWAS President Alassane Ouattara announced the bloc closed Mali's trade corridors and froze its assets after coup leaders missed a Monday deadline to return power to civilian leaders. "The situation in Mali is extremely serious, it is a blow to democracy and an attack on the territorial integrity of this country," he was quoted by the BBC as saying. The BBC said Tuareg rebels have used the political vacuum to take control over Timbuktu, Gao and Kidal. The rebels include separatist factions and al-Qaida sympathizers. U.N. officials have expressed concern about the reports of fighting in Timbuktu. The historic city is home to mosques listed as World Heritage sites.