EU plans most far-reaching sanctions on Russia in coming months

The European Union intends to significantly expand sanctions against Russia in the coming months over its war in Ukraine, the bloc’s foreign policy chief, Kaja Kallas, told a ‌German newspaper.

“EU sanctions have already cost Russia dearly, depriving Russia’s war machine of over €1 trillion (US$1.16 trillion) and for autumn I am putting forward the most far-reaching sanctions listings since the start of the war,” she told Die Welt.

“Once adopted, they would immediately raise the total number of sanctioned Russian entities by a third. The pressure must keep growing until Moscow ends its ⁠war,” said Kallas, who leads the European External Action Service (EEAS) – the EU’s diplomatic service.

She did not elaborate on ‌timing or details of the new designations, but EU diplomatic sources later said the EEAS would propose about 1,600 individuals and entities based in Russia and focused ‌on Moscow’s military-industrial complex.

The designations will include travel and transaction bans as well ⁠as asset freezes, they ⁠added. The EU has already listed nearly 3,000 people and companies.