EU weighs new sanctions on Russia to hit banks and oil trade

The European Union is exploring new sanctions on about half a dozen Russian banks and energy companies as part of its latest round of measures to pressure President Vladimir Putin to end the war against Ukraine, Bloomberg said, citing sources, Report informs.

The package, which would be the bloc"s 19th since Moscow"s full-scale invasion in 2022, could also see the EU target Russia"s payment and credit card systems, crypto exchanges as well as further restrictions on the country"s oil trade, according to people familiar with the matter.

The bloc is hoping to coordinate some of its latest measures with the US, said the people, who spoke on the condition of anonymity to discuss private deliberations. A delegation of EU officials will be traveling to Washington this week to meet US counterparts and discuss the potential for joint action.

Separately, the EU is weighing the possibility of deploying its "anti-circumvention tool" for the first time against Kazakhstan, the people said. That would see the country banned from importing a specific set of machines that, according to the bloc"s trade data are still being diverted to Russia in high volumes where they"re used in the production of weapons, the people said.