EU Prepares 12th Sanctions Package Against Russia

The EU is preparing the 12th sanctions package against Russia due to the war in Ukraine, while the G7 is moving forward with plans to ban diamond purchases from Moscow, Bloomberg reports.

The new measures, which could be introduced as early as next month, may include the long-awaited proposal to use profits from frozen central bank assets to aid Kyiv.

A group of EU member states, including Poland and the Baltic countries, is pushing for more stringent actions. There are also calls within the EU for imposing restrictions on the Russian nuclear sector. However, such efforts have frequently encountered resistance from a significant number of member countries.

The new package of measures could be adopted in the first half of October or announced during the upcoming EU-US summit planned for next month, with the exact date yet to be determined.