The European Union is considering imposing new sanctions on Russia
The European Union is moving toward imposing a new package of sanctions on Russia, including the potential exclusion of 20 Russian banks from the SWIFT global financial transfer system, a move that would deepen Moscow’s economic isolation, according to what Bloomberg reported.
The plans also include reducing the price ceiling for Russian oil from $60 to $45 per barrel, a move expected to be discussed by the G7, amid US pressure to approve it, despite divergent European positions on its effectiveness and impact on energy markets.
The European Union is discussing imposing new restrictions on the Nord Stream project, one of Russia’s most important gas pipelines that runs through the Baltic Sea.
This could further deteriorate trade cooperation between Russia and Europe.
In contrast, the US Presidential Administration is adopting a more cautious stance, announcing that Washington prefers to temporarily postpone the new sanctions to allow for negotiations between Russia and Ukraine, which recently resumed in Türkiye after a hiatus of more than two years.
The implementation of the new package of sanctions remains subject to the consensus of EU member states, opening the door to the possibility of modifying or postponing some of the proposed measures, at a time when European countries’ positions vary between escalation and caution.
