Germany and France are pushing for new, tougher European sanctions against Russia, targeting mainly the energy sector, according to a document circulated to other EU members, DPA reported, BTA reported.
The document, which the agency has seen, calls for additional sanctions against oil companies such as Moscow-based "Lukoil" and service providers related to the Russian oil industry. This could include companies responsible for exporting Russian oil to the EU or trading in Russian crude oil.
Berlin and Paris say Russian oil remains the Kremlin's main source of funding for its war against Ukraine. The document also states that it is considering expanding the mechanism under which a price cap is set for Russian oil to include European companies transporting refined Russian oil products through third countries.
Sanctions are currently applied to companies involved in transporting Russian oil above the so-called price cap, including shipping companies and companies offering insurance, technical support, financing or brokerage services.
The governments of Germany and France also want to fill the financial and logistical gaps that allow Russia to circumvent existing sanctions. The proposed measures include imposing sanctions on additional Russian banks and foreign institutions linked to the Russian Central Bank's Financial Messaging System (SPFS).
Currently, about 250 small and medium-sized banks are engaged in international transactions supporting Russia's military operations, the document states.
Germany and France are also considering sanctions against companies linked to Russia's military-industrial complex - from the automotive and aviation sectors, machine-building and electrical engineering companies, as well as those in the gold mining and processing sector. The proposals will be included in the EU's upcoming 19th package of sanctions against Russia, which will require approval by all member states.