According to The Royal Forums:
Stemming from their own inquiry into the assassination, the Austro-Hungarian government presented the Serbians with a list of demands as an ultimatum on July 23 – if the demands were not agreed to within 48 hours, war would be declared. And it was on July 28, sparking a chain of further war declarations as European alliances were brought to the forefront (Germany, Russia, France and the United Kingdom were all at war by early August). Europe was now involved in a war which would last four long years.
The assassination…had severe and lasting consequences on Europe.
To read the entire article on The Royal Forums, please click here.