What the Next Sanctions Package Against Russia May Include from the EU

The next sanctions package from the European Union may include stricter restrictions on the export of Russian oil. Additionally, the possibility of extending personal and trade sanctions is being discussed, Bloomberg reports, citing sources.

“EU member states are striving to reach a political agreement in the coming weeks that will limit the prices of Russian oil. These measures will likely impact a new sanctions package against Moscow,” the article states.

The pressure to expand anti-Russian sanctions has increased following Russia's announcement of a partial mobilization in response to the escalating conflict in Ukraine. New oil restrictions will solidify the EU and US positions on this issue and also hit Moscow's commodity revenues. However, a compromise on the new sanctions package has yet to be reached, the agency asserts.

“Despite renewed efforts from the European Commission, the EU’s executive body, and some member states, the proposal faces numerous obstacles, and a positive outcome is not yet guaranteed,” the article notes.