EU Weighs New Sanctions on Russia to Hit Banks and Oil Trade

The European Union is considering implementing additional sanctions on Russia in response to the ongoing war in Ukraine. The proposed sanctions target approximately half a dozen Russian banks and energy companies, aiming to further pressure President Vladimir Putin to end the conflict. The new measures are part of the EU's ongoing efforts to increase economic pressure on Russia and its support for the invasion of Ukraine. The sanctions are expected to focus on limiting Russia's access to the global financial system and disrupting its oil trade, which are vital to the country's economy. The specific details of the proposed sanctions are still under discussion, but they are likely to have significant implications for the affected Russian institutions and the broader economic relationship between Russia and the EU. The decision to implement these sanctions underscores the EU's commitment to using its economic leverage to respond to Russia's actions in Ukraine.