Politico: EU wants to agree on new sanctions against Russia by the end of next week

The EU is trying to agree on a 21st package of sanctions by the end of next week. The new restrictions could hit Russiaʼs oil revenues, banks and shadow navy.

Politico writes about this, citing sources.

Among the proposals:

• fix a price ceiling for Russian oil so that Moscow does not earn more from a possible price increase;
• impose new sanctions against Lukoil and Rosneft;
• expand restrictions against shadow fleet vessels and the companies that service them.

EU is also discussing the possibility of including the head of the Russian Orthodox Church Patriarch Kirill on the sanctions list. Hungary previously blocked this.

As the media notes, Brussels is betting on increasing pressure on Russia, not on negotiations. This is happening despite calls from some leaders to appoint a special representative for peace talks.

EU believes that Ukraine could be in a stronger position after the summer. One official noted that appointing a special representative now could ease pressure on Moscow at the very moment when Ukraine is beginning to seize the initiative in the war.

• The 20th package of sanctions against Russia was approved on April 23. It was the most extensive in the past two years and covered the energy sector, the shadow navy, the military-industrial complex, and the trade and finance sectors. Sanctions were also imposed against 60 companies and 120 people.

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