The European Union has started work on preparing a new sanctions package against Russia, after progress towards a peaceful resolution of the war in Ukraine remains limited, DPA reports, BTA reports.
The EU's High Representative for Foreign Affairs and Security Policy Kaia Kallas announced the initiative after her meeting in Berlin with German Defense Minister Boris Pistorius.
“Wars are lost by those who run out of money or soldiers first“, said Kallas. She emphasized that this is precisely why the EU continues to put pressure on Moscow through sanctions measures.
Kalas also welcomed the latest sanctions by the United States targeting Russian oil companies, emphasizing that the effect is strongest when such actions are taken together with international partners.
Previous, The nineteenth package of sanctions, which came into force in October, aims - like the US measures - to limit Russia's revenues from natural gas and oil exports. A complete ban on the import of Russian liquefied natural gas will come into effect from the beginning of 2027, a year earlier than originally planned. New restrictions on the financial sector are also expected, as well as further restrictions on the free movement of Russian diplomats within the EU.