The European Union plans to expand its sanctions against Russia in the coming months, EU foreign policy chief Kaja Kallas has said.
Kallas told Germany’s Die Welt that the EU would present its most far-reaching sanctions listings since the start of the war in Ukraine.
She said the new measures could sharply increase pressure on Moscow.
New Sanctions Could Target More Russian Entities
Kallas said the new package could increase the number of sanctioned Russian entities by one-third.
She did not provide a specific date for the package.
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She also did not reveal which Russian individuals or organisations the EU plans to target.
However, Kallas said the bloc must continue increasing pressure until Moscow ends its war in Ukraine.
EU Says Sanctions Have Hit Russia Hard
Kallas said existing EU sanctions have already caused major financial losses for Russia.
According to her, the measures have deprived Russia’s war machine of more than €1 trillion.
The EU has imposed wide-ranging restrictions on Russia since the start of the war in Ukraine.
These measures target areas such as finance, energy, trade and military-related industries.
EU Approved Latest Russia Sanctions in July
The EU approved its latest sanctions package against Russia in July.
That package introduced new restrictions on Russia’s banking sector and cryptocurrency networks.
The bloc has also targeted Russia’s so-called shadow fleet. The EU says these vessels help Moscow bypass restrictions on Russian oil exports.
Meanwhile, EU officials continue to discuss further measures against Russia.
Pressure on Moscow Set to Continue
Kallas said the EU would not ease its pressure on Russia.
She argued that stronger sanctions could increase the cost of continuing the war.
At the same time, the proposed autumn package could become one of the EU’s most significant moves against Russia since the war began.
The final measures will depend on agreement among EU member states.
