The sanctions include bans on travel and the freezing of assets held outside Guinea by the military leaders.
They were imposed after troops opened fire on September 28, at a rally in a stadium, in the capital, Conakry, where protesters were urging Moussa Dadis Camara, the country's military leader, not to stand in presidential elections planned for January.
Camara now wants to stand in the elections, despite his earlier committment not to do so and despite demands from the international community that he should not run.
At least 150 people died in the crackdown, according to the United Nations.
Human rights groups put the toll at 157 dead and more than 1,200 injured,
including women who were publicly raped.
The military government has admitted that 56 people died and 934 were wounded. Arms embargo
The UN has announced it will set up an inquiry into the massacre while the International Criminal Court (ICC) said it will hold a separate preliminary inquiry to determine if war crimes were committed.
|Camara seized power in a bloodless coup
last December [AFP]
Both the AU and the 15-nation Economic Community of West African States (Ecowas) have already suspended Guinea's membership after Camara seized power in a bloodless coup last December.
The EU agreed last week to impose an arms embargo on the West African country, and restrict the travel and freeze assets of those involved in the killing of the protesters.
The US government has also restricted travel to the United States by some of the ruling members as well as others who support actions that "undermine the restoration of democracy and the rule of law".