The European Union’s preparation of new sanctions against Russia is being closely coordinated with the United States, EU Council President Antonio Costa said on Monday.
U.S. President Donald Trump said on Sunday he is ready to move to a second phase of sanctioning Russia, and that individual European leaders would visit the U.S. on Monday or Tuesday to discuss how to resolve the Russian-Ukraine war.
Treasury Secretary Scott Bessent said the U.S. and the European Union could heap “secondary tariffs on the countries that buy Russian oil,” pushing the Russian economy to the brink of collapse and bringing Russian President Vladimir Putin to the negotiating table.
According to a Bloomberg News report, the EU is exploring new sanctions on about half a dozen Russian banks and energy companies.
The package could also see the EU target Russia’s payment and credit card systems and crypto exchanges, as well as further restrictions on the country’s oil trade, the source said.
