According to Kallas, the new measures could increase by roughly one-third the number of Russian individuals and entities linked to the Kremlin currently subject to EU sanctions. The exact date of the package's presentation has not yet been announced, and details of the restrictions are still being worked out.
Kallas argued that the EU's existing sanctions have already had a significant impact on the Russian economy and Moscow's ability to finance and conduct the war. She estimated that the measures have cost Russia more than €1 trillion so far.
"The pressure should continue to increase until Moscow ends the war," Kallas said, emphasizing the EU's intention to maintain economic and political pressure on the Kremlin.
The European initiative comes as the United States is also considering tougher measures against Russia. The U.S. Senate has passed legislation that would strengthen sanctions against Russian officials and introduce tariffs of up to 100 percent on goods imported from countries that purchase Russian energy commodities.
The proposed American measures could particularly affect major buyers of Russian energy, including China and India. The legislation will now move to the House of Representatives, where lawmakers will decide whether to approve the package before it can proceed further.
Ukrainian President Volodymyr Zelenskyy welcomed the Senate's action and thanked U.S. senators for supporting stronger measures against Moscow. He said that increasing sanctions pressure could help bring an end to the war.
The simultaneous moves by Brussels and Washington signal a potentially significant escalation in economic pressure on Russia. If both packages are adopted in their proposed forms, Moscow could face additional restrictions on individuals, businesses, trade and access to international markets.
(aj)
SOURCE: PAP; IAR